The EU carbon boundary adjustment mechanism will crack down on South Korean steel exports

According to HUONO, July 20th, the Korea Foreign Economic Policy Research Institute (KIEP) issued the \”Commercial Legal Analysis of the EU Carbon Border Adjustment Mechanism (CBAM) and the International Industrial Enlightenment\” report, it is believed that South Korea’s total export products in EU It is involved in the proportion of CBAM to steel and steel products, accounting for 95.2%, involving $ 3.15 billion. Once the CBAM is implemented, importing companies may pass the generated additional cost part to the export enterprise, thus causing the export of the Korean steel industry. The carbon boundary adjustment mechanism, referred to as CBAM, which is proposed by the European Commission, which is destroyed by the effectiveness of its own climate policy due to carbon leakage. The carbon boundary adjustment mechanism is the core of the European Commission’s \”European Green Agreement\” that protects those required to reduce the \”carbon footprint\” (carbon footprint) refers to corporate institutions, activities, products or individuals through transportation, food production and consumption and A collection of greenhouse gas emissions caused by various production processes, from the influence of \”carbon dumping\” outside the European continent. (Overseas steel)