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South Korea unveils policy plan to minimize impact of EU measures

South Korea unveils policy plan to minimize impact of EU measures

South Korea's Ministry of Trade, Industry and Energy (MOTIE) has announced a set of strategic measures aimed at strengthening the domestic steel industry. В свете растущих глобальных избыточных мощностей, тарифного давления и роста цен на энергоносители, эта политика направлена ​​на защиту конкурентоспособности Южной Кореи в производстве стали, укрепление ее системы реагирования на новые правила импорта ЕС, которые сокращают беспошлинные квоты на стальную продукцию и удваивают тариф до 50 процентов. import rules to protect local manufacturers from unfair trade practices.

To address the difficulties faced by steel exporting companies, MOTIE plans to continuously explore various measures such as establishing a “Guarantee Product to Strengthen the Steel Export Supply Chain” and a “Secondary Preservation Project for Steel Manufacturing Companies. aluminum, copper and derivative materials.”

In addition, in October, the relevant ministries will jointly develop a “Steel Industry Development Plan”, which includes:

  • identifying areas of response to specific products and developing support measures to respond to the global surplus proposals
  • strengthening responses to unfair imports through systems such as anti-dumping
  • setting standards for low-carbon steel materials and providing incentives
  • expanding support investment in low carbon conversion and high value added in the steel industry, such as hydrogen reduction iron production and specialty carbon steel,
  • strengthening safety management and expanding mutually beneficial cooperation between steel mining and processing processes, and between demand and raw materials industries.

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