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.


Parasites are ecological dark matter – and they need protecting
How to create a thriving forest, not box-checking ‘tree cover’
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment
Fertile land for growing vegetables is at risk — but a scientific discovery could turn the tide
Thousands of satellites are due to burn up in the atmosphere every year – damaging the ozone layer and changing the climate
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions
Drug pollution in water is making salmon take more risks – new research
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
The UK is surprisingly short of water – but more reservoirs aren’t the answer
As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 



