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EU Sets Lower Steel Import Quotas Starting July, Cutting South Korea’s Share by 20 Percent
The European Union will cut tariff-free steel import quotas sharply starting July 1. South Korea receives a reduced allocation of 2.07 million tons but faces a smaller percentage cut than the overall EU reduction.
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South Korea has been allocated a quota of 2.07 million tons under the European Union's new safeguard measures on steel imports, according to the Ministry of Trade, Industry and Resources. The quota takes effect July 1 and represents a 19.7 percent reduction from the previous allocation of 2.58 million tons that covered July 2025 through June 2026.
The European Union is reducing tariff-free quotas on 30 steel products and will impose a 50 percent tariff on imports that exceed the new limits.
The bloc's overall tariff-free quota falls to 18.35 million tons from 33.82 million tons, a 46 percent cut. South Korea's reduction of 19.7 percent is smaller than the overall EU cut. The trade ministry said it had used all available channels to limit the impact on local steelmakers.
"South Korea has utilized all available channels to help local steelmakers export even one more ton of steel to the EU market," Trade Minister Yeo Han-koo said in a ministry release. South Korea also has access to an additional 1.47 million tons that can be used through competition with other countries.
The ministry said it will work closely with local businesses to maximize use of the shared quota.
Yeo said the government will continue efforts to secure stable overseas market access for Korean companies amid ongoing global steel oversupply and tighter import rules by major economies.
