Low-carbon transition policies pose significant risks to fossil fuel-reliant industries. Increasing carbon prices raise emission costs for companies, leading to economic losses for countries like South Korea, heavily dependent on carbon-intensive manufacturing. This study analyzes the effects of rising carbon prices on all industries, considering inter-industry relationships. Our analysis shows that cost increases in carbon-intensive industries lead to price hikes in connected sectors. However, high-emission industries with low-carbon technology potential are less impacted, emphasizing the importance of green innovation. This study provides valuable policy implications for climate change risk management for South Korean companies and policymakers.