Asia Pacific > Korean steelmakers likely to bear $2.2 bln CBAM costs over next decade, lobby group says

Korean steelmakers likely to bear $2.2 bln CBAM costs over next decade, lobby group says

Published 10:44 on September 3, 2024  /  Last updated at 10:46 on September 3, 2024  / /  Asia Pacific, CBAM, South Korea

A major South Korean business lobby is urging the government to actively support decarbonisation of the domestic steel industry, as the implementation of the EU's Carbon Border Adjustment Mechanism (CBAM) could bring Korean steelmakers additional costs of 3 trillion won ($2.2 billion) over the next decade.
A major South Korean business lobby is urging the government to actively support decarbonisation of the domestic steel industry, as the implementation of the EU's Carbon Border Adjustment Mechanism (CBAM) could bring Korean steelmakers additional costs of 3 trillion won ($2.2 billion) over the next decade.


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