South Korea's government announced a 570 billion won (US$396 million) support package for its domestic steel sector to strengthen export competitiveness and accelerate technology innovation.

The plan includes a 400 million won export guarantee and 170 million won in policy financing to modernize companies and encourage voluntary capacity adjustments, qualifying them for tax breaks. The immediate focus is on general-purpose steel, especially rebar, which is struggling due to oversupply.

The government is also expanding anti-dumping duties to counter low-cost imports and plans a 200 million won investment by 2030 to develop ten special carbon steels, raising domestic self-sufficiency. This initiative is part of a long-term goal to establish South Korea as a leader in low-carbon, hydrogen-based steel manufacturing.