Korea secures softer EU steel quota cut, minister says

AI핵심 요약

• ·Kim Jung-kwan says Seoul has reached a broad agreement with Brussels, while calling for new approaches to chip investment, tax revenue and corporate profit-sharing South Korea has made progress in talks with the European Union over steel tariff-rate quotas, Industry Minister Kim Jung-kwan said, raising hopes that Korean exporters may face a smaller cut than the bloc's planned overall reduction.
• ·In a wide-ranging briefing in Sejong on Monday, Kim also discussed corporate bonus dispute, chip-related tax revenue, Canada's submarine tender and possible new semiconductor production sites.
• ·Kim said the biggest outcome of his recent trip to Kazakhstan, Europe and the Middle East was a "broad agreement" with the EU on steel TRQs.
• ·"Korea's current quota stands at about 2.58 million metric tons, and we have reached a consensus that Korea's allocation would not be reduced by the full 46 percent even if the EU lowers its overall import ceiling," Kim said.
• ·He declined to give a specific figure.