S. Korea reaches broad consensus with EU on steel import policy

Seoul has reached a broad consensus with the European Union regarding the economic bloc's planned implementation of a new steel import quota system that could adversely affect South Korean steelmakers, the industry minister said Monday.

"Our quota is about 2.58 million tons, and there was a consensus that the volume would not be reduced by as much as 46 percent," Industry Minister Kim Jung-kwan told reporters during a press briefing held in the central city of Sejong, without elaborating on the ...