Korea and Japan unite to tackle EU carbon tariff concerns

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Korea and Japan unite to tackle EU carbon tariff concerns

Choi Nam-ho, the second vice minister of the Ministry of Trade, Industry and Energy, speaks at a meeting held to discuss safety management of energy facilities at Korea Gas Corporation's office in Daejeon on Thusday. [YONHAP]

Choi Nam-ho, the second vice minister of the Ministry of Trade, Industry and Energy, speaks at a meeting held to discuss safety management of energy facilities at Korea Gas Corporation's office in Daejeon on Thusday. [YONHAP]

 
Korea's industry ministry said Friday it has agreed with Japan to work closely to ensure the European Union's Carbon Border Adjustment Mechanism (CBAM) does not act as a trade barrier.
 
The two countries discussed the agenda during a meeting in Seoul amid efforts to expand cooperation in industrial environmental policies, according to the Ministry of Trade, Industry and Energy.
 

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CBAM calls for levying an import charge on steel, cement, electricity, fertilizer, aluminum and other related items equivalent to their carbon emissions during production.
 
The policy is set to be fully implemented at the start of 2026.
 
"With countries around the globe moving to adopt carbon-related regulations, expanding coordination with like-minded nations, including Japan, can bolster South Korea's industrial competitiveness and minimize negative impacts on exports," a senior ministry official said.

Yonhap
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