K-Steel Act

K-스틸법

A special act of South Korea (Law No. 21202), passed by the National Assembly on 27 November 2025 and effective 17 June 2026, to strengthen the competitiveness of the steel industry and support its transition to carbon neutrality. Its key provisions include establishing a Prime Minister-level Special Committee on Steel Industry Competitiveness, mandating five-year basic plans, introducing low-carbon steel certification, designating low-carbon steel special zones, and granting antitrust exemptions for business restructuring: including expedited merger review and permitted information-sharing among competitors. Enacted amid US 50% tariffs, Chinese steel dumping, and EU CBAM pressure, the law has drawn criticism for socializing the restructuring costs of chaebol steelmakers while potentially deepening monopolisation.