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South Korea Unveils Steel Rescue Road Map With New Export Guarantees and Conditional Capacity Cuts

State backing targets export guarantees, risk hedging, greener processes and higher‑value grades to reinforce competitiveness.

Overview

  • The industry ministry rolled out a restructuring plan that adds a 400 billion‑won export guarantee and a 150 billion‑won support program for steel, aluminum and copper derivatives.
  • Support is tied to preemptive capacity adjustments for oversupplied products such as structural steel and pipes, contingent on companies pursuing responsible management.
  • Authorities will fully execute the previously announced package of up to 570 billion won in emergency aid, including low‑interest loans and trade insurance for tariff‑hit exporters.
  • Policy tools expand to curb unfairly priced imports, with plans to widen anti‑dumping coverage and a focus on stabilizing the general‑purpose segment, particularly rebar.
  • Investment priorities include AI adoption, hydrogen‑based steelmaking R&D, and specialized carbon steel, alongside 170 billion won in policy financing and a goal to develop 10 advanced grades by 2030.