As global pressure to reduce carbon emissions intensifies, the steel industry is confronted with the imperative of achieving carbon neutrality. Since the signing of the Paris Agreement in 2016, numerous countries worldwide have advocated for a shift towards a low-carbon economy, leading to the expansion of carbon-related regulations such as carbon border tariffs and carbon taxes. Given its significant emissions footprint, the steel industry is directly impacted by these regulations, prompting many countries to explore emissions reduction strategies and subsidize low-carbon transition of the industry. 

For both Japan and South Korea, the steel industry is a major domestic industrial and economic sector, and a dominant player on the world stage. In 2022, Japan and South Korea ranked as the world’s 3rd and 6th largest steel-producing countries, with 89.2 million tones and 65.8 million tons of crude steel output, respectively, collectively accounting for 8.2% share of global production.  

On Thursday, June 13, 2024, Solutions for Our Climate (SFOC) and Transition Asia are pleased to hold a special industry webinar to discuss “Financing Solutions for Steel Decarbonization in East Asia - Unlocking Subsidies in South Korea and Japan”. To start, we will be hearing from Yeongmin Kweon, Steel Analyst at SFOC, who will present on the 'Global Trends in Public Funding for Steel Decarbonization & Implications for South Korea’. Following the first presentation, Kenta Kubokawa, Japan Analyst at Transition Asia, will delve deeper into the interplay of public-private engagement on steel decarbonization in Japan, in a presentation titled 'Public Steel Decarbonization Funding in Japan: Current Status & Implications for Japanese Steel Industry'. 

The presentations will be followed by a Q&A session, moderated by SFOC’s Steel Lead, Heather Lee. 

• Title: Financing Solutions for Steel Decarbonization in East Asia - Unlocking Subsidies in South Korea and Japan  
• Time: 16:00-17:00 JST/KST | 9:00-10:00 CEST   
  Date: Thursday, June 13, 2024  
  Format: Zoom  
  Language: Presentations will be in English   
  English-Korean & English-Japanese simultaneous interpretation available  

• 제목: 동아시아의 철강 탈탄소화를 위한 금융 해법 - 한국과 일본의 공공 보조금 지원 현황 파헤치기 
• 시간: 오후 4시-5시 (JST/KST), 오전 9시-10시 (CEST) 
• 날짜: 2024년 6월 13일 (목)  
• 형식: 줌 (온라인) 
• 언어: 발제는 영어로 진행되며, 한-영 및 일-영 동시통역 제공 예정 
   
• タイトル: 鉄鋼産業の脱炭素化へ向けた財政的・金融的ソリューション - 韓国と日本における支援の現状 
• 日時: 2024年6月13日 (木)、日本時間 16:00-17:00 (中部欧州時間 9:00-10:00) 
• フォーマット: Zoom 
• 言語: プレゼンテーションは英語。英→日、英→韓の同時通訳。 

Key expected outcomes from the webinar are to: 

• Provide an overview of current trends in public funding for steel decarbonization, with a particular focus on funding for the development & commercialization of innovative hydrogen-based steel production facilities 
• Share the status of public funding and relevant progress of steel decarbonization by industry in two major East Asian steelmaking nations, Japan and South Korea 
• Explore synergies for public-private cooperation for accelerated steel decarbonization and economic competitiveness  

Please follow this link to register (Zoom registration should be completed as part of the registration process): https://share.hsforms.com/1auMxWK33QBO4sU_Jsy5Nggcmtld  

The webinar will be hosted online via Zoom and simultaneous English-Japanese / English-Korean interpretation will be provided. If you have any questions about the event, please contact Kate Kalinova on kate.kalinova@forourclimate.org