South Korean exporters face uphill battle as EU mulls raw materials law



Analysis South Korean exporters face uphill battle as EU mulls raw materials law Europe’s answer to Inflation Reduction Act could force shift in facilities and supply lines that few firms can afford John LeeMarch 13, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON The flag of the European Union seen in Karlskrona, Sweden, Aug. 20, 2011 via Wikimedia Commons Beset by China’s dominance of the world’s rare earths market, the Russian invasion of Ukraine and the normalization of protectionist trade policies in the U.S., the European Commission is expected to present the details of the Critical Raw Materials Act (CRMA) on March 14. But this effort to boost European autonomy will likely cause headaches for South Korea as it still learning to adjust to new vehicle and chip restrictions in the U.S. market. Like those restrictions initiated by the Inflation Reduction Act (IRA) and the CHIPS Act, the EU’s CRMA is designed to decrease supply risks by strengthening all © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01South Korea’s won faces a new test as foreign bond buying loses momentum 02Trump’s Russian diesel deal may leave South Korea’s refining boom intact 03Trump’s Alaska LNG claim shows who really runs the US-South Korea alliance 04South Korea’s missile defense push raises new questions over wartime stocks 05South Korea bank hacks expose weak links beyond core financial systems 06Lee-Zelensky feud exposes South Korea’s widening Ukraine policy dilemma 07Lee Jae Myung’s ‘pacemaker’ strategy tests South Korea’s leverage with Trump 08Trump’s Korea investment victory lap masks safeguards Seoul still controls

Analysis

South Korean exporters face uphill battle as EU mulls raw materials law

Europe’s answer to Inflation Reduction Act could force shift in facilities and supply lines that few firms can afford

John LeeMarch 13, 2023

South Korean exporters face uphill battle as EU mulls raw materials law

The flag of the European Union seen in Karlskrona, Sweden, Aug. 20, 2011 via Wikimedia Commons

Beset by China’s dominance of the world’s rare earths market, the Russian invasion of Ukraine and the normalization of protectionist trade policies in the U.S., the European Commission is expected to present the details of the Critical Raw Materials Act (CRMA) on March 14.

But this effort to boost European autonomy will likely cause headaches for South Korea as it still learning to adjust to new vehicle and chip restrictions in the U.S. market.

Like those restrictions initiated by the Inflation Reduction Act (IRA) and the CHIPS Act, the EU’s CRMA is designed to decrease supply risks by strengthening all

LATEST ANALYSIS

01South Korea’s won faces a new test as foreign bond buying loses momentum
02Trump’s Russian diesel deal may leave South Korea’s refining boom intact
03Trump’s Alaska LNG claim shows who really runs the US-South Korea alliance
04South Korea’s missile defense push raises new questions over wartime stocks
05South Korea bank hacks expose weak links beyond core financial systems
06Lee-Zelensky feud exposes South Korea’s widening Ukraine policy dilemma
07Lee Jae Myung’s ‘pacemaker’ strategy tests South Korea’s leverage with Trump
08Trump’s Korea investment victory lap masks safeguards Seoul still controls

South Korean exporters face uphill battle as EU mulls raw materials law

LATEST ANALYSIS

Similar Articles

About the Author

John Lee