South Korea will expand support for its domestic steel industry by tightening import controls and increasing investment in low-carbon steelmaking technology to improve the industry's long-term competitiveness.

To boost domestic demand for steel, the government plans to encourage the use of high-quality steel products in industries with high safety and technical standards. The move is also aimed at strengthening cooperation between steel producers and downstream manufacturers.

South Korea will also tighten import controls by requiring importers to report the country of origin of crude steel. The measure is intended to stop companies from avoiding trade rules by shipping or processing steel through a third country before it enters the South Korean market.