The European Union(EU) will impose provisional safeguard measures on some steel imports. The measure was taken to guard against a flood of the products to the bloc resulting from U.S. protectionist measures, but could hit the South Korean steel industry. 

The European Commission(EC) on Wednesday announced that it will impose an additional 25 percent tariff on 23 categories of steel products if their volumes exceed average quotas over the past three years. 

EU Trade Commissioner Cecilia Malmstrom said in a statement that the decision was made in order to protect EU steelmakers and workers from a surge in steel imports following the U.S.' imposition of a 25 percent tariff on steel products, which fully came into effect last month. 

The measures, which will take effect on Thursday, are likely to strike a blow to South Korea, China, India, Russia, Turkey and Ukraine. 

According to the Foreign Ministry in Seoul, South Korea's annual exports of the 23 targeted products to the EU reach three-point-three million tons and are worth two-point-nine billion dollars. 

The ministry said that the EU will continue its investigation into steel imports in the second half of the year and produce final safeguard measures later this year after public hearings in September.