South Korea has expressed concern over the Eurasian Economic Union's(EAEU) potential safeguard against steel products during a hearing hosted by the union.
 
The Ministry of Trade, Industry and Energy said on Tuesday that a joint delegation of ministry officials and representatives from local steel firms participated in a hearing hosted by the EAEU in Moscow on Monday.  

This move came after the EAEU launched an investigation against South Korea’s steel products last August, amid concern over an influx of Korean steel into the region due to global protectionism policies. 

The ministry said the delegation emphasized that the probes were unfair as they did not meet standards set by the World Trade Organization and that a potential safeguard measure could lead to a decrease in supply and the rise of steel prices in Europe. 

The delegation reportedly said that if a safeguard measure is implemented, the EAEU should at least exempt steel products for automobiles and gas pipes because demand for those products cannot be met by regional production. 

The government plans to continue to convey its positions and concerns regarding the matter until the EAEU makes a final decision on May sixth.