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

Author

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  • Lee, Sul-Ki

    (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.

Suggested Citation

  • Lee, Sul-Ki, 2022. "Will the EU Cbam Hurt Korean Manufacturers? An Empirical Analysis with Implications for Policy," Industrial Economic Review 22-16, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2022_016
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    More about this item

    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;
    All these keywords.

    JEL classification:

    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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