Gov't to make all-out efforts to address new EU steel import policy (opens original article in a new tab)

South Korea will make all necessary efforts to protect steel companies' interests ahead of the new EU steel policy implementation, which includes reducing tariff-free quotas and raising tariffs on steel imports.

• South Korea will make all necessary efforts to protect steel companies' interests due to new EU steel policy
• EU plans to reduce tariff-free quotas on 30 steel products and raise tariffs to 50% on imports exceeding quotas from July 1
• New system may have adverse effects on South Korean companies with quota for tariff-free steel imports nearly halved to 18.3 million tons