South Korea’s National Assembly has passed the K-Steel Act, a new law aimed at strengthening the domestic steel industry and accelerating its shift toward carbon neutrality. 

The Act establishes a Prime Minister-led special committee to develop and execute a five-year master plan for industry restructuring and long-term competitiveness. The main measures include a low-carbon steel certification system, priority procurement for certified products, and the creation of green steel zones. 

The Act also provides support for corporate restructuring across the sector. Earlier this month, the government released a roadmap to reduce oversupply in certain steel segments, aligning with the goals of the new legislation.