South Korea fears EU green plan as China starts carbon trading

Seoul summons steel makers for talks on coping with carbon border tax

20210715 Steel plant in SK

A Posco Steel plant in Pohang, South Korea, in 2018. The country's government met steelmakers on Thursday to discuss the consequences of a planned EU "carbon border tax". © Getty Images

AKANE OKUTSU and KIM JAEWON, Nikkei staff writers

TOKYO/SEOUL -- South Korea's government hosted emergency talks with the country's steelmakers on Thursday after the European Union put forward wide-ranging plans to decarbonize its economy, in a first sign of how the green policies could rebound on Asian exporters.

Meanwhile, China plans to launch its national carbon trading market on Friday, as a key instrument to cut carbon output by the world's biggest emitter.

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