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South Korea announced a roadmap to help its steel industry restructure amid global oversupply and rising trade barriers, steering mills toward higher-value and low-emission products.
The plan supports pre-emptive capacity adjustments in oversupplied items such as structural steel and pipes, tied to stronger corporate governance and “responsible” management. Authorities will also sharpen responses to foreign protectionism while executing previously announced exporter relief.
Key measures
Financing: A 400 billion export-guarantee facility (with POSCO Group, Industrial Bank of Korea and Korea Trade Insurance Corp) and a 150 billion program for commodity derivatives; earlier packages offered up to 570 billion this year via low-interest loans and trade insurance.
Trade discipline: From next year, importers must submit mill test certificates; anti-circumvention rules on dumping will tighten.
Upgrade & decarbonisation: About 200 billion for special carbon steel R&D, promotion of AI adoption in mills, and acceleration of hydrogen-based steelmaking.
Officials said the package aims to stabilise domestic pricing, safeguard competitiveness through the cycle, and speed the sector’s shift to premium and greener products while maintaining export momentum.
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