Gov’t Hosts Briefing to Prepare South Korean Exporters for EU Carbon Policy

GWANGJU: The South Korean government has organized a briefing session aimed at equipping domestic companies with the necessary knowledge and strategies to tackle the European Union's impending carbon border policy. This initiative by the Ministry of Trade, Industry and Energy underscores the growing concerns within the local industry regarding the EU's Carbon Border Adjustment Mechanism (CBAM). According to Yonhap News Agency, the session, which marks the fourth of its kind, took place in Gwangju, a city located 269 kilometers south of Seoul. The CBAM policy, which levies import charges based on carbon emissions from production, targets sectors such as steel, cement, electricity, fertilizer, aluminum, and other related industries. The full implementation of this policy is scheduled for the beginning of 2026. In response to these developments, the South Korean government is set to establish a support channel dedicated to assisting companies facing challenges linked to the CBAM. Additionally, the ministry has pledged to provide tailored support specifically for exporters, as they navigate the complexities of the new EU regulations.