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Korea says Britain's new steel trade measures could violate bilateral FTA, vows active response

Published: 20 Mar. 2026, 12:29

Steel products await shipment abroad at a port in Pyeongtaek, Gyeonggi, on March 12. [YONHAP]

Korea's Ministry of Trade, Industry and Resources has expressed concerns over Britain's new protectionist steel trade measure, arguing that the move could potentially violate a bilateral FTA with Korea.

The Industry Ministry issued such a position late Thursday after the British government announced a plan to reduce its overall quota levels for steel imports by 60 percent and impose a 50 percent tariff on shipments exceeding those quotas starting in July.

"Such a measure amounts to an effective extension of the existing steel safeguard scheme and could be in violation of World Trade Organization rules, as well as the Korea-Britain FTA, which provides for a tariff-free steel trade," the ministry said.

Authorities will hold close consultations with London and actively respond to the matter to minimize damage to Korean companies, it added.

Britain accounts for 2.3 percent of Korea's overall steel exports, according to the ministry.

Yonhap