Support from Government and Related Agencies for SMEs' Response to Carbon Border Adjustment Mechanism

The 3rd Joint Government Briefing Held
Over 100 Companies Attending for Carbon Border Adjustment Mechanism Response

On the 25th, the government announced that it held the 3rd joint government briefing session on responding to the European Union's Carbon Border Adjustment Mechanism (CBAM) at the Korea Railroad Corporation headquarters in Daejeon, jointly with related ministries and agencies including the Ministry of SMEs and Startups, the Ministry of Trade, Industry and Energy, the Ministry of Environment, and the Korea Customs Service.

This briefing session consisted of information and helpful content necessary for Korean companies to understand and respond to the system, including ▲ an overview and current status of the Carbon Border Adjustment Mechanism ▲ methods for calculating emissions ▲ how to fill out templates ▲ and excellent consulting cases.

In addition to the joint briefing session, the government is supporting Korean companies' responses to the Carbon Border Adjustment Mechanism through cooperation with related agencies. Through the Small and Medium Business Corporation, specialized e-learning content on the Carbon Border Adjustment Mechanism has been produced and is provided free of charge, and offline practical training is planned to be conducted in the future. Furthermore, last month, an explanatory guide on emissions calculation for the cement, fertilizer, and hydrogen industries was additionally distributed through the Korea Environment Corporation.

Moreover, to reduce the burden on Korean companies in responding to the Carbon Border Adjustment Mechanism, continuous consultations on system improvements are being held with the European Union. Last month, a visit to the European Union was made to present industry concerns and positions related to system improvements, such as sensitive information protection and the use of default values.

Kim Woo-soon, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, stated, “The government will actively resolve difficulties arising as our companies respond to the Carbon Border Adjustment Mechanism and will expand and strengthen support so that they can effectively prepare for global environmental regulations.”

This content was produced with the assistance of AI translation services.