Cautious optimism is emerging over a potential recovery of Korea’s steel industry in 2026, following China’s decision to regulate steel exports through a licensing system starting Jan. 1. Amid a prolonged slump in the sector, attention is on whether the world’s largest steel-producing country’s latest measure will curb the glut of low-priced steel products in the global market. In December, China’s Ministry of Commerce announced that exporters of some 300 steel items would need to apply for licenses based on export contracts and product-quality inspection certificates from manufacturers. “This measure should help keep global supply, demand and trade in better balance,” the state-backed China Iron and Steel Association said in a statement. China’s robust steel exports fueled a growing protectionist backlash worldwide throughout 2025. Seoul has imposed antidumping tariffs on thick steel plates and hot-rolled coils from China and is reviewing precoated and galvanized steel sheets from the country at the request of Korean firms that have long suffered from aggressive price com