Industry ministry discusses response to EU's carbon policy with local industries

The industry ministry held a meeting with representatives from the automobile, home appliances and steel sectors Thursday to discuss responses to the European Union's (EU) plan to implement the Carbon Border Adjustment Mechanism (CBAM) next year, officials said. The EU is set to levy tax on carbon-intensive goods imported to the region, such as steel, aluminum, cement and fertilizers, starting on Jan. 1, and plans to expand its carbon border levy to other items, including auto parts, refrigerators and washing machines, beginning in 2028. Under the new scheme, exporters to the EU must calculate the carbon emissions associated with their products and report it to the importers so they can purchase CBAM certificates based on those emissions. "We will carefully review whether the recent announcement on the expansion of items applicable (under CBAM) could act as a trade barrier in disguise (to Korean companies)," Vice Trade Minister Park Jung-sung said, vowing continued communications with the industries over the matter. The ministry said through continued consultations with the EU, the start