{"id":2205445,"date":"2024-06-13T08:00:25","date_gmt":"2024-06-12T23:00:25","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205445"},"modified":"2024-06-12T17:51:36","modified_gmt":"2024-06-12T08:51:36","slug":"south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/","title":{"rendered":"South Korea\u2019s carbon reduction efforts face European scrutiny at trade meeting"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea requested the European Union (EU) to recognize its various carbon emission reduction efforts and improve its reporting system during the <\/span><a href=\"https:\/\/www.motie.go.kr\/kor\/article\/ATCL3f49a5a8c\/169168\/view?mno=&amp;pageIndex=1&amp;rowPageC=0&amp;displayAuthor=&amp;searchCategory=0&amp;schClear=on&amp;startDtD=&amp;endDtD=&amp;searchCondition=1&amp;searchKeyword=#\"><span style=\"font-weight: 400;\">12th Committee on Trade in Goods meeting<\/span><\/a><span style=\"font-weight: 400;\"> under the ROK-EU Free Trade Agreement (FTA) in Brussels on Wednesday. The meeting focused on reviewing the implementation of the FTA and addressing difficulties faced by companies from both countries in accessing each other&#8217;s markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The South Korean government raised concerns about the \u201cambiguity\u201d of EU environmental regulations, such as the <\/span><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32023R0956&amp;qid=1718177455304\"><span style=\"font-weight: 400;\">Carbon Border Adjustment Mechanism<\/span><\/a><span style=\"font-weight: 400;\"> (CBAM), <\/span><a href=\"https:\/\/eur-lex.europa.eu\/eli\/reg\/2023\/1542\/oj\"><span style=\"font-weight: 400;\">Battery Regulation<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32023R1115&amp;qid=1687867231461\"><span style=\"font-weight: 400;\">Deforestation Regulation<\/span><\/a><span style=\"font-weight: 400;\">, which have created challenges for South Korean companies entering the EU market. The two sides also discussed the EU\u2019s <\/span><a href=\"https:\/\/eurometal.net\/eu-to-extend-safeguards-until-2026-proposing-restricted-residual-quotas-access-for-hrc-wire-rod\/\"><span style=\"font-weight: 400;\">extension of steel safeguard measures<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Given its <\/span><a href=\"https:\/\/koreapro.org\/2024\/06\/south-koreas-sluggish-renewable-energy-transition-puts-economy-at-risk\/\"><span style=\"font-weight: 400;\">modest renewable energy target<\/span><\/a><span style=\"font-weight: 400;\"> of 21.6% by 2030, South Korea will likely face challenges convincing the EU to recognize its carbon emission reduction efforts. As major economies implement stricter environmental policies and trade barriers, such as the EU\u2019s CBAM and steel safeguard measures, South Korean companies risk losing competitiveness in global markets. The growing demand for clean steel and the increasing pressure from initiatives like <\/span><a href=\"https:\/\/www.theclimategroup.org\/steelzero\"><span style=\"font-weight: 400;\">SteelZero<\/span><\/a><span style=\"font-weight: 400;\"> further compound these risks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">South Korea\u2019s slow progress in transitioning to renewable energy and its <\/span><a href=\"https:\/\/koreapro.org\/2024\/05\/deadlock-over-radioactive-waste-jeopardizes-future-of-south-korean-nuclear-power\/\"><span style=\"font-weight: 400;\">lack of long-term solutions for spent nuclear fuel<\/span><\/a><span style=\"font-weight: 400;\">, which the EU requires to classify nuclear energy as an eco-friendly energy source, leave the country vulnerable to the impact of growing trade barriers. The EU\u2019s environmental regulations and the extension of steel safeguard measures until 2026 create a prolonged period of uncertainty for South Korean exporters.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea requested the European Union (EU) to recognize its various carbon emission reduction efforts and improve its reporting system during the 12th Committee on Trade in Goods meeting under the ROK-EU Free Trade Agreement (FTA) in Brussels on Wednesday. The meeting focused on reviewing the implementation of the FTA and addressing difficulties faced by [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2205446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28,29],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea\u2019s carbon reduction efforts face European scrutiny at trade meeting - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea\u2019s carbon reduction efforts face European scrutiny at trade meeting - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea requested the European Union (EU) to recognize its various carbon emission reduction efforts and improve its reporting system during the 12th Committee on Trade in Goods meeting under the ROK-EU Free Trade Agreement (FTA) in Brussels on Wednesday. The meeting focused on reviewing the implementation of the FTA and addressing difficulties faced by [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T23:00:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-12T08:51:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2024\/06\/eb-8.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"South Korea\u2019s carbon reduction efforts face European scrutiny at trade meeting\",\"datePublished\":\"2024-06-12T23:00:25+00:00\",\"dateModified\":\"2024-06-12T08:51:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/\"},\"wordCount\":269,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2024\/06\/south-koreas-carbon-reduction-efforts-face-european-scrutiny-at-trade-meeting\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/06\/eb-8.png\",\"keywords\":[\"Business &amp; 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