It is reported that Korea’s government decided to cut auto and home appliance consumption taxes, due to auto and home appliance market demand remain sluggish. Korea’s finance department pointed out that

Korea finance pointed out that auto and home appliance consumption taxes cut from 5% to 3.5%. It would benefit to auto steel sheet and galvanized steel producers.

This program will help automobile manufacturers and other steel appliances factory, such as Posco, Hyundai steel and Dongkuk steel.