Japan and South Korean steel mills to collaborate on lowering carbon emissions

The Ministry of Economy, Trade and Industry (METI) and the Ministry of Industry, Trade and Energy of the Republic of Korea (ROK) are joining forces to organize a seminar for steelmakers from both countries. This seminar is part of an ongoing steel dialogue between Japan and South Korea. The steel industry is going through significant changes, especially with the growing focus on reducing carbon emissions. The aim of this seminar is to create a platform for exchanging ideas and opinions on various topics, ultimately leading to the healthy growth of the steel industries in both countries. The first seminar will take place in Seoul later this month.

The History of Japan-Korea Steel Dialogue

Back in 1999, Japan and South Korea established the Japan-Korea Steel Dialogue, bringing together steelmakers from both countries. They have been holding annual meetings primarily focused on trade issues. However, due to the COVID-19 pandemic and strained political relations, the dialogue was suspended for over 20 years. Fortunately, in May of this year, it resumed after a gap of four years and seven months.

Purpose of the Steel Dialogue

The Steel Dialogue serves as a platform for sharing information about market trends and the current state of steel trade between Japan and South Korea. Its main goal is to prevent trade conflicts by promoting open communication. The importance of discussing trade-related matters remains unchanged, and both countries plan to continue holding these dialogues annually. However, with the changing landscape of the steel industry, the scope of discussions has expanded to cover a wide range of topics.

Topics at the Seminar

The specific themes for the seminar will be determined through discussions between Japan and South Korea. The upcoming seminar in Seoul will focus on global warming countermeasure technologies, with a particular emphasis on the Border Carbon Adjustment Measures (CBAM) that the European Commission (EU) plans to introduce in October.

Reducing carbon emissions is one of the key challenges facing the steel industry. Countries are competing fiercely to develop and implement innovative technologies that will achieve carbon neutrality (virtually zero CO2 emissions). However, there are also areas where collaboration is possible, such as defining "green steel." These topics will be explored during the seminar.

Representatives from both governments, as well as experts and representatives from blast furnace manufacturers, are expected to attend. Japanese steelmakers, such as Japan Steel, JFE Steel, and Kobe Steel, will also be present. By organizing this seminar, Japan and South Korea aim to strengthen their collaboration in the steel industry and address the challenges posed by the changing global environment.

Note: This article has been written in accordance with an article exchange agreement between Steel Daily and SteelMint.