Jung In-gyo, Head of Trade Headquarters: "CBAM, Not a Crisis but an Opportunity for Korea... Will Actively Raise Key Demands"

Jung In-kyo, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, visited Iljin Steel, a leading domestic steel pipe manufacturer, on the 21st and emphasized that "the European Union (EU) Carbon Border Adjustment Mechanism (CBAM) can be an opportunity rather than a crisis for our export companies."

At the on-site meeting that day, Head Jung stated, "We will actively present our core demands to the EU, strengthen cooperation with countries that share similar positions, and strategically utilize various negotiation channels."

Iljin Steel is a leading domestic steel pipe manufacturer that was the first in Korea to localize the production and export of seamless steel pipes. Seamless steel pipes, which have no seams, are used in various fields such as oil drilling and factory automation, and require significant technological expertise in the manufacturing process.

Head Jung encouraged the employees of Iljin Steel, who produce and export high value-added seamless steel pipes, saying, "In a situation where major countries such as the EU and the United States are reorganizing trade and commerce orders centered on their own countries, active responses at the corporate level as well as by the government are very important to increase exports."

So far, the government has continuously held briefings and industry meetings for companies through collaboration among related ministries and agencies such as the Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups under the 'Pan-Ministerial CBAM Response Task Force (TF).' Furthermore, by operating education and consulting programs and providing customized support for companies, the government plans to maintain continuous communication with the industry and continue efforts to sustain the export competitiveness of Korean companies, focusing on small and medium-sized enterprises and mid-sized companies.