Korea secures 2.07m-ton tariff-free steel quota from EU

South Korea has secured 2.07 million metric tons of dedicated tariff-free steel exports to the European Union under the bloc's new import regime, with Korean steelmakers potentially able to ship up to 3.55 million tons, including access to shared quotas.

The Ministry of Trade, Industry and Resources said Tuesday the European Commission announced the operating plan and country-by-country allocations for the new tariff-rate quota system, which takes effect Wednesday and replaces the existing steel ...