South Korea has introduced a new support package for its steel industry, which is struggling with global overcapacity and rising trade protectionism. The plan includes a 400 billion-won guarantee program for steel exports and 150 billion won for firms handling steel, aluminum, and copper products, financed by POSCO Group, Industrial Bank of Korea, and Korea Trade Insurance Corp.

Companies will be able to access preferential loans with lower interest rates and longer repayment periods, while the government continues talks with major partners to ease measures such as the U.S. 50% tariff and new EU safeguards.

South Korea will also implement mandatory quality certification for steel imports starting in 2026 and strengthen efforts against dumping. Around 200 billion won will be directed to research and development in special carbon steels and AI-based technologies, alongside initiatives to advance hydrogen-based steelmaking.