Hyundai Steel said on the 5th that it held a briefing to share trade regulation information with local clients and discuss response plans in preparation for the European Union's carbon border adjustment mechanism (CBAM), which takes full effect this year.
The briefing sessions were held from the 23rd to the 26th in Germany, the Czech Republic, and Slovakia. They were organized to improve local clients' and importers' understanding of CBAM and reduce uncertainty over expense burdens and implementation procedures.
The briefing covered: ▲ key CBAM rules and upcoming procedures ▲ importers' obligations and compliance rules ▲ Hyundai Steel's CBAM response status ▲ guidance on major trade systems and a Q&A on current issues.
About 160 officials from more than 30 local client companies attended. Hyundai Steel said that officials from EU client companies, who had many uncertainties ahead of CBAM's full implementation, responded that sharing concrete data and response directions was very helpful.
A Hyundai Steel official said, "CBAM and EU trade policy are not short-term regulations but changes that affect market structure in the mid to long term," adding, "We will maintain a stable supply environment through continued communication with local clients."