KOTRA and Korea Institute of Industrial Technology Hold 'Webinar on Responding to European Green Deal Regulations'

Kim Sang-mook, Head of KOTRA Innovation Growth Division, is delivering a greeting at the 'Europe Green Deal Regulation Response Webinar' on the 28th. (Photo by KOTRA)

[Asia Economy Reporter Jeong Hyunjin] KOTRA announced on the 28th that it held a 'European Green Deal Regulation Response Webinar' together with the Korea Institute of Industrial Technology.

This webinar was held following the European Union (EU)'s announcement of the draft Carbon Border Adjustment Mechanism (CBAM) on the 14th, which imposes costs on products imported into the EU that have higher carbon emissions than domestic products. The industry is concerned about significant damage to the domestic steel and aluminum sectors, and as the scope of CBAM-applied items may expand, other industries are closely monitoring future developments.

At the webinar, Dr. Kim Dong-gu of the Korea Energy Economics Institute first presented on the topic of 'EU's Carbon Border Adjustment Mechanism and Response Strategies.' Dr. Kim stated, "Companies doing business with Europe need to optimize their global value chains considering the variables of CBAM."

Following this, Yeon Seong-mo, CEO of HIP, gave a presentation on 'Major EU Environmental Regulations and Response Strategies,' emphasizing, "In the past, companies mainly managed harmful substance regulations, but going forward, they must also respond to resource efficiency regulations," and urged, "Since it is difficult to keep track of numerous environmental regulations worldwide, actively utilizing the International Environmental Regulation Corporate Support Center website is recommended."

Kim Sang-mook, Head of KOTRA's Innovation Growth Division, said, "The EU's CBAM signals that environmental regulations will be strengthened in the global economy," adding, "This is a time when businesspeople must be more alert than ever to global trends."

The webinar video will be available for replay from the 29th on the 'KOTRA Business' YouTube channel.