This chapter analyzes the changing international competitiveness of the Chinese，South Korean iron and steel industry based the export data from 1990 to 2013. As the magnitude of environmental regulations in the above countries have been dramatically increasing for the past several decades，we want to find out if the increased magnitude has an impact on the iron and steel industrial competitiveness. Based on the analysis，we could conclude that the magnitude of the environmental regulation is positively related to international competitiveness.