The South Korean government has announced a new package of measures to support the steel industry, which is facing global overcapacity and rising trade protectionism

Published: Nov 10, 2025 16:07

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According to the Ministry of Trade, Industry, and Energy, the state will increase financial assistance, stimulate innovation, and promote the transition to high value-added steel production.

The plan includes the creation of a 400 billion won ($278 million) guarantee program to support steel exports, as well as 150 billion won for companies working with steel, aluminum, and copper products. The fund will be jointly financed by steel giant POSCO Group, Industrial Bank of Korea, and Korea Trade Insurance Corp.

The program allows companies to obtain preferential loans with reduced interest rates and extended repayment terms. The government will also continue negotiations with key trading partners to lift or ease restrictive measures, such as the US 50% tariff on steel imports or new EU safeguard mechanisms.

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