South Korea's steel exports to EU expected to decrease

South Korean steelmakers will be negatively affected by the European Union's decision to impose carbon tariffs on imported products.

The Carbon Border Adjustment Mechanism, which is implemented by the European Union to limit carbon emissions, negatively affects steel, one of the main products of South Korea's exports to the EU.

Due to this decision, it is expected that the aluminum exports of South Korea to the European Union will decrease by 15%, while the expected decrease in the exports of the steel industry is estimated as 20%.

The South Korean government and companies are considering ways to deal with this situation.