Will the EU Cbam Hurt Korean Manufacturers? An Empirical Analysis with Implications for Policy

Sul-Ki Lee ()
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Sul-Ki Lee: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 22-16, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Manufacturing and other carbon-intensive sectors account for a large proportion of the Korean economy, and so transitioning into a low-carbon society will necessitate a soft landing; efforts to cut greenhouse gas emissions must not impair the ability of economic growth to produce qualitative improvements in quality of life. In this context, it is essential for Korea to comprehensively examine the impact of the EU CBAM on Korea’s manufacturing industry and develop countermeasures. This paper examines domestic and foreign policy trends with regards to EU carbon border adjustment, and conceptually summarizes various pathways through which the EU carbon border adjustment may affect Korea’s economy.

Keywords: carbon border adjustment mechanism; CBAM; greenhouse gas emissions; GHG emissions; GHGs; steel; manufacturing; Korea; manufacturing competitiveness; environmental policy; environmental regulation; carbon emissions; emissions policy; carbon policy; EU; European Union (search for similar items in EconPapers)
JEL-codes: P18 Q48 Q54 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2022-10-01
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