Ministry of SMEs and Startups

Youngju Oh, Minister of SMEs and Startups, held a meeting to support small businesses in response to EU CBAM at the Korea Chamber of Commerce and Industry in Seoul on May 22nd. The Carbon Border Adjustment Mechanism (CBAM) has been piloted since October 2023, and corporates are required to purchase a certificate corresponding to the amount of carbon emitted in the production process when they export carbon-intensive products to the EU member states.