SEOUL, June 11 : The European Union said it would give maximum consideration to South Korea's request for favourable treatment of its steelmakers under the bloc's new import regime, a senior South Korean presidential adviser said on Thursday. South Korean President Lee Jae Myung made the request during a meeting with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Brussels on Wednesday. Lee asked the EU to give "favourable consideration" to South Korea as a strategic partner and free trade agreement partner, presidential policy adviser Kim Yong-beom told a briefing. "The EU side said... that it would consider our request as much as possible," Kim said, adding South Korea expected a more positive outcome than for other countries.
Kim said South Korea had made "significant progress" in talks between its trade minister and the EU trade commissioner over steel quota volumes.In May, the European Parliament approved plans to reduce its tariff-free steel imports by nearly half from 2024 levels to 18.3 million metric tons a year. For volumes above that level, tariffs of 50 per cent will apply, up from 25 per cent currently. The EU is South Korea's second-largest steel export market. South Korea exported 3.24 million tons of steel to the bloc last year out of total steel exports of 28.25 million tons, Kim said. Lee also raised other economic issues with EU leaders, including cooperation on semiconductors, defence, artificial intelligence and carbon regulations, Kim said.
