South Korean firms may face between 7.3 trillion won to 36.3 trillion won in additional taxes if the country comes up with a carbon tax law, according to Lee Soo-min, a researcher with Nice Rating.
Hardest to be hit are those from heavy industries that emit higher carbon dioxide levels, such as steel, petrochemical, and power utility companies.
A bill on carbon tax in line with EU’s Carbon Border Adjustment Mechanism (CBAM) is currently pending in the parliament.
CBAM, which will tax products responsible for higher carbon dioxide emissions during manufacturing, is set for full implementation in 2026.
Lee noted that based on the analysis of the CBAM, the amount of border tax paid to China could be up to 1.5 trillion won, while the EU and the US may aggressively tax Korean firms.
The current costs borne by Korean companies are below standards suggested by the International Monetary Fund and the World Bank, but the additional measure will further pressure local companies.


Oil Prices Slip as Trump Extends Iran Ceasefire Deadline Amid Ongoing War Fears
Parasites are ecological dark matter – and they need protecting
Lake beds are rich environmental records — studying them reveals much about a place’s history
U.S. Stocks Tumble as Iran Peace Deal Uncertainty Spooks Markets
Iran Allows Oil Tankers Through Strait of Hormuz Amid U.S. Negotiations
Cybersecurity Stocks Tumble After Anthropic's Claude Mythos AI Leak Sparks Market Fears
LA fires: Fast wildfires are more destructive and harder to contain
How is Antarctica melting, exactly? Crucial details are beginning to come into focus
France's 2025 Budget Deficit Shrinks More Than Expected, Easing Fiscal Pressure
China Opens Door to Stronger U.S. Trade Ties Amid Rising Tensions
Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes
As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost
Burkina Faso and Mali’s fabulous flora: new plant life record released
Asian Stocks Rebound as Trump Delays Iran Strike Deadline 



