Steel Enterprises in Korea May Reduce the Output Because of New Policy Regarding C Emission

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Steel Enterprises in Korea May Reduce the Output Because of New Policy Regarding C Emission

Reported by Korea Media,the new policy about carbon emission will request steel enterprises contributing billions of KRW’s additional tax, which the crude steel output will be reduced accordingly.

At present, because of impacting from Chinese low price steels, the new policy will weaken the competitiveness of steel enterprise. According to the report of steel association in Korea, first stage for the plan of carbon emission policy will begin from 2015 to 2017, the total allocation is 0.3 billion tons, which is less than the beginning 0.33 billiontons by 6.5%. The total quantity participating in this plan is 525, which contains Posco Steel, Hyundai Steel, Dongguk Steel, etc 40 steel enterprises. With this policy, the steel enterprises will reduce the output or shut down the production so to avoid additional taxes, meanwhile, steel from China’s market share will be out of hand in future.

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