Trade minister calls for 'favorable' treatment to S. Korean firms under EU steel safeguard scheme
South Korean Trade Minister Yeo Han-koo has urged the European Union to provide favorable treatment to South Korean firms under its upcoming steel safeguard measures. This request was made during a meeting with EU Trade Commissioner Maros Sefcovic, as the EU prepares to implement a new tariff rate quota system that could negatively impact Korean steel exports. Yeo emphasized the importance of maintaining strong trade relations and addressing concerns from Korean companies affected by these protective measures.
- ▪The EU's new steel tariff rate quota system will reduce the quota for tariff-free steel imports from 35 million tons to 18.3 million tons.
- ▪The tariff rate for imports exceeding the quota will increase from 25 percent to 50 percent.
- ▪In 2024, South Korea exported $4.48 billion worth of steel to the EU, making up 13.5 percent of its total steel exports.
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Facebook X More Pinterest Linked in Tumblr Reddit Facebook Messenger Copy URL URL is copied. OK Trade minister calls for 'favorable' treatment to S. Korean firms under EU steel safeguard scheme Kim Na-young All News 09:25 June 04, 2026 SHARE Facebook X Pinterest Linked in Tumblr Reddit Facebook Messenger Copy URL URL is copied. LIKE SAVE PRINT FONT SIZE ABCDEFG ABCDEFG ABCDEFG ABCDEFG ABCDEFG SEOUL, June 4 (Yonhap) -- Trade Minister Yeo Han-koo has called on the European Union to give favorable treatment to South Korean firms under its planned implementation of stronger steel safeguard measures, his office said Thursday.
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