The government held an emergency meeting to discuss countermeasures following the European Union’s announcement of a new tariff rate quota system and increased steel tariffs.

Deputy Minister for Trade Park Jong-won presided over the meeting on Friday with representatives from the steel industry to address the EU’s plan, announced Tuesday, to halve the duty-free steel import allocation and raise tariffs from 25 to 50 percent.

South Korean steelmakers called for a swift and strong government response to prevent unfair imports, as well as expanded support for a transition to low-carbon, high-value-added steel production to enhance competitiveness.

The Ministry of Trade, Industry and Energy plans to utilize channels through the World Trade Organization and the Korea-EU Free Trade Agreement (FTA), as the EU has indicated it will consider FTA partners when allocating duty-free import quotas.

Related ministries are expected to announce measures this month aimed at addressing steel oversupply, strengthening responses to unfair imports, and offering incentives for low-carbon steel materials to promote industry advancement.