South Korea
South Korea shipped 3.7 Mt of CBAM goods to the EU in 2025 (3.3 % of all CBAM imports, up 3 % on 2024). Most of the exposure comes from iron and steel. At default values the 2026 CBAM bill would be about €390 m, ranking it 9th of 152 countries.
3.7 MtEU imports, 2025
€4.12 bncustoms value
€390 mCBAM exposure 2026
€104/taverage per tonne
What it exports
Steel 97 %Aluminium 3 %Fertilisers 0 %Cement 0 %
| Sector | Tonnes 2025 | Value | Exposure 2026 | 2034 |
|---|---|---|---|---|
| Iron and steel | 3.6 Mt | €3.64 bn | €377 m | €937 m |
| Aluminium | 109 kt | €478 m | €12.9 m | €16.8 m |
| Fertilisers | 106 t | €472 k | €12 k | €23 k |
| Cement | 1 t | €1 k | €0 k | €0 k |
Products with the largest exposure
Default value (2026, incl. mark-up) and CBAM benchmark in tCO₂e per tonne.
| CN code | Product | Tonnes | Default | Benchmark | Exposure |
|---|---|---|---|---|---|
| 7210 49 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, hot-rolled or c… | 504 kt | 2.358 | 1.491 | €37.5 m |
| 7208 51 20 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, not in coils, s… | 376 kt | 2.330 | 1.370 | €30.7 m |
| 7208 39 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 341 kt | 2.330 | 1.370 | €27.9 m |
| 7225 19 90 | Flat-rolled products of silicon-electrical steel, of a width of ≥ 600 mm, cold-rolled "c… | 113 kt | 4.455 | 1.488 | €27.8 m |
| 7210 70 80 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, hot-rolled or c… | 282 kt | 2.358 | 1.491 | €21.0 m |
| 7209 16 90 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 237 kt | 2.358 | 1.458 | €18.3 m |
| 7209 17 90 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 159 kt | 2.358 | 1.458 | €12.2 m |
| 7208 36 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 127 kt | 2.330 | 1.370 | €10.4 m |
| 7225 99 00 | Flat-rolled products of alloy steel other than stainless, of a width of ≥ 600 mm, hot-ro… | 41 kt | 4.455 | 1.706 | €9.4 m |
| 7225 92 00 | Flat-rolled products of alloy steel other than stainless, of a width of ≥ 600 mm, hot-ro… | 40 kt | 4.455 | 1.706 | €9.1 m |
| 7219 13 10 | Flat-rolled products of stainless steel, of a width of ≥ 600 mm, not further worked than… | 37 kt | 3.993 | 1.189 | €8.7 m |
| 7219 34 10 | Flat-rolled products of stainless steel, of a width of ≥ 600 mm, not further worked than… | 38 kt | 4.015 | 1.270 | €8.7 m |
Outlook
Same 2025 volumes, same certificate price (€82.32), default values throughout.
€390 m2026 · 10 % mark-up, 97.5 % free allocation
€735 m2030 · 30 % mark-up, 51.5 % free allocation
€954 m2034 · free allocation ends
Carbon pricing in South Korea
South Korea has run the K-ETS since 2015, covering most heavy industry including steel and cement. A large share of allowances is allocated free of charge.
Where it sits on the map
Read more
Nearby in the ranking: Egypt, Taiwan, United Kingdom, Vietnam.
Sources: Eurostat Comext (DS-045409), annual 2025; Implementing Regulations (EU) 2025/2621 and 2025/2620. See methodology.