division | Main contents | Basis and Source |
|---|---|---|
| Global steel market | Demand for shipbuilding, automobiles, and construction remains strong despite economic slowdowns in the US and China. | Bloomberg Steel Market 2025.8 |
| supply structure | Oversupply centered in China, increasing production in India and Vietnam | Reuters Metals 2025.7 |
| Import dependence in Korea | Some of the high-grade steel plates for automobiles and shipbuilding rely on foreign sources (17% of total). | Ministry of Trade, Industry and Energy 2025 |
| external variables | EU Carbon Border Tax (CBAM) and the influx of low-cost Chinese goods | WTO Trade Report 2025 |
South Korea's steel imports remain stable , centered on high-grade steel plates and special steel , while downward pressure on unit prices due to global oversupply and carbon tax risks coexist.
item | Details | Data source |
|---|---|---|
| HS code | 72 (Iron and Steel) | UN Comtrade |
| Main detailed items | 7208 (hot rolled steel sheet), 7210 (coated steel sheet), 7219 (stainless steel), 7225 (alloy steel) | Customs Service Trade Statistics |
| Import volume in 2024 | Approximately USD 18.7 billion (2.8% of total imports) | KCS·OEC 2025 |
| Average annual growth rate ('20–'24) | +3.9% | Industrial Yearbook |
| Major demand sources | Automotive, shipbuilding, construction, machinery, and energy equipment industries |
The HS72 product group has a complex structure of steel intermediate materials and finished products , and its product diversity is increasing in line with the demand for carbon-neutral and high-strength technologies.
ranking | importing country | specific gravity(%) | Main items | Features and Risks |
|---|---|---|---|---|
| 1 | china | 41 | Hot-rolled and cold-rolled steel sheets, reinforcing bars | High price competitiveness, but quality variation exists |
| 2 | japan | 26 | High-grade stainless steel, alloy steel | High-grade steel for automobiles and shipbuilding |
| 3 | taiwan | 9 | Galvanized steel sheet/special steel | Electronic materials center |
| 4 | India | 8 | Hot rolled and thick plate | For shipbuilding and construction |
| 5 | vietnam | 5 | hot rolled coil | Focus on reprocessed products |
The top five countries account for more than 89% of total imports, and the supply structure is being reorganized into
a balanced structure: China's low-priced goods → Japan's high-quality steel → India and Taiwan .
division | 2023 Q3 | 2024 Q3 | Increase/decrease (%) | note |
|---|---|---|---|---|
| Hot rolled steel sheet (ton) | 2,980,000 | 3,130,000 | +5.0 | Focused on automobiles and shipbuilding |
| cold rolled steel sheet | 1,520,000 | 1,570,000 | +3.3 | High-end home appliances and machinery industry |
| stainless steel | 720,000 | 780,000 | +8.3 | For sanitary and chemical facilities |
| alloy steel | 450,000 | 470,000 | +4.4 | For energy and construction machinery |
| total | — | — | +5.3 | stable growth |
Imports are increasing due to the recovery of the automobile and shipbuilding industries , and the structure is shifting to focus on high value-added special steel.
Item | 2024 Q1 | 2024 Q2 | 2024 Q3 | change(%) |
|---|---|---|---|---|
| Hot rolled steel sheet (USD/ton) | 770 | 790 | 805 | +1.9 |
| cold rolled steel sheet | 880 | 910 | 920 | +1.1 |
| stainless steel | 2,040 | 2,150 | 2,240 | +4.2 |
| alloy steel | 1,320 | 1,340 | 1,355 | +1.1 |
Stainless steel and alloy steel are seeing rising unit prices, while low-priced Chinese products are holding down the overall average unit price.
branch | characteristic | Import Volatility Index (0–1) |
|---|---|---|
| Q1 | Steel mill regular maintenance machine | 0.43 |
| Q2 | Increase in construction and shipbuilding orders | 0.69 |
| Q3 | Steel sheet peak for home appliances and automobiles | 0.74 |
| Q4 | Year-end adjustment period | 0.56 |
The Q2-Q3 import-focused structure is directly linked to the demand for special steel for shipbuilding and automobiles.
item | detail |
|---|---|
| Tariff rate | Average 3%, duty-free in most FTA partner countries |
| Non-tariff | EU Carbon Border Tax (CBAM) Strengthens Quality and Specification Inspections |
| Domestic alternative industries | 75% domestic production rate of high-strength steel and non-oriented electrical steel |
| Future tasks | Demonstration and commercialization of carbon reduction ironmaking technology (hydrogen reduction ironmaking) |
Carbon regulation-responsive import strategies and the transition to hydrogen reduction ironmaking technology will be key to future industrial competitiveness.
characteristic | evaluation | analysis |
|---|---|---|
| Carbon emissions impact | very high | The steelmaking process itself is a high-carbon industry. |
| ESG Risk | Medium to high | Diverse environmental standards for raw material importers |
| Net Zero Contribution | middle | Room for improvement when switching to hydrogen reduction ironmaking |
The steel industry is a key target for the transition to carbon neutrality , and demand for carbon certification for imported steel is rapidly increasing.
importing country | Policy/Environmental Risk (0–1) | Logistics Risk (0–1) | Comprehensive Trust Index |
|---|---|---|---|
| china | 0.45 | 0.32 | 0.63 |
| japan | 0.22 | 0.25 | 0.81 |
| taiwan | 0.27 | 0.29 | 0.77 |
| India | 0.36 | 0.33 | 0.69 |
| vietnam | 0.38 | 0.34 | 0.68 |
Average Trust Index = 0.72 (Good)
The stability of the high-quality supply chain centered on Japan and Taiwan is high, but dependence on China remains a risk factor.
industry | Major companies | Imported items | note |
|---|---|---|---|
| steel manufacturing | POSCO, Hyundai Steel | Slabs/semi-finished products | Rolling after import |
| automobile | Hyundai, Kia, GM, and Renault Korea | Galvanized steel plate/stainless steel | Focus on advanced materials |
| Shipbuilding and Plants | Samsung Heavy Industries, Hyundai Heavy Industries | Thick plate/hot rolled | For large ships and equipment |
| Machinery and home appliances | LG Electronics, Hanwha, Doosan | Cold rolled and alloy steel | For corrosion-resistant and precision parts |
The demand structure is centered on automobiles (37%), shipbuilding (29%), and machinery (16%) .
characteristic | Currently (2025 Q3) | Compared to the previous quarter (Δ%) | analysis |
|---|---|---|---|
| ΔImport | +2.7% | ▲0.8 | Increase in imports centered on high-grade steel |
| ΔPrice | +2.1% | ▲0.6 | rising stainless steel prices |
| ΔCountryShare | +0.4% | ▲0.3 | Increased share of Japan and Taiwan |
| Trust Index | 0.72 | = | Good maintenance |
| Forecast (3M) | +3.2% | ▲ | Construction and shipbuilding orders continue in Q4 |
Summary: HS72 imports continue to rise moderately.
Stable growth, driven by high-grade and special steels compliant with carbon regulations, is driving limited unit price increases.
division | Suggestion | Expected effect |
|---|---|---|
| 1 | Expanding investment in hydrogen reduction ironmaking technology demonstration | Carbon reduction + competitiveness enhancement |
| 2 | Tax support for R&D to replace high-grade steel imports | Improving localization rate |
| 3 | Introduction of a low-carbon certification system to respond to CBAM | Improving access to the EU market |
| 4 | Import Control Using AI Trade Forecasting Models | Inventory efficiency |
| 5 | Strengthening the Advanced Materials Industry-Steel Linkage Policy | Stabilization of the industrial ecosystem |
HS72 (Steel) Imports Trade Index – 2025 Q3
ΔImport +2.7% , ΔPrice +2.1% , Trust 0.72 , Forecast (3M) +3.2%
→ Outlook: Maintaining a moderate upward trend (Positive-Neutral).
The import structure is evolving, focusing on high-grade steel for shipbuilding and automobiles, and
carbon/CBAM-responsive technologies and supply chain diversification strategies are presented as key mid- to long-term directions.
