South Korea's steel exports under threat as EU tightens protective measures

The European Union is preparing to introduce stricter protective measures against imported steel products in an attempt to protect its industry from the growth of global overcapacity, which is expected to grow from 602 million tons in 2024 to 721 million tons by 2027.

According to local South Korean media reports, following US protectionist measures, the EU's decision represents a broader global trend of tightening trade policies on steel to protect domestic producers from cheap imports, especially from Asia.

Impact on steel exports from South Korea

As previously reported by SteelOrbis, from mid-2026, the new EU protection system will be:

• Reduce duty-free import quotas by 47 percent and
• Double tariffs from 25 to 50 percent.

This change is expected to have a significant impact on steel exports from South Korea to the EU, which is the second largest foreign market after the United States.

In 2024, South Korea exported steel to the EU worth about $4.48 billion, exceeding Its exports to the United States are worth about $ 2.62 billion.

Seoul is looking for diplomatic solutions

The South Korean government has committed to actively represent its position and support domestic manufacturers in adapting to the new trading landscape.

The Ministry of Trade, Industry and Energy (MOTIE) said it welcomes the EU's intention to consider Free Trade Agreement (FTA) partners when allocating quotas. "We