South Korea calls on EU to ensure fairness for Korean steelmakers under new steel import tariffs

South Korean President Lee Jae-myung called on the European Union to show favorable consideration to South Korean steelmakers as the bloc prepares to raise tariffs on steel imports from July 1, according to a Reuters report.

The request was made during a summit held on Wednesday in Belgium with the participation of European Council President Antonio Costa and European Commission President Ursula von der Leyen. At the meeting, President Lee called on the EU to ensure that South Korean steel producers continue to have access to the European market on terms no less favorable than those provided to their competitors.

The South Korean president cited the country's position as a strategic and free trade partner of the EU, stressing the importance of fair treatment for Korean steel mills under the bloc's revised import regime.

In May, the European Parliament approved plans to cut duty-free steel imports into the EU by almost half compared to 2024 levels, setting a new annual quota at 18.3 million tons. Imports exceeding this amount will be subject to a 50 percent tariff, up from the current 25 percent tariff, as SteelOrbis previously reported.