久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Asia-Pacific

South Korea's tariff-hit sectors to get more support

By YANG HAN in Hong Kong | China Daily | Updated: 2025-05-22 09:21
Share
Share - WeChat
A trailer truck transports vehicles bound for export at the Port of Incheon in Incheon, South Korea, on Tuesday. SEONGJOON CHO VIA GETTY IMAGES

More support will be given to key sectors of the South Korean economy affected by the United States' tariffs, the government said in Seoul on Wednesday, even as the second round of technical discussions with Washington took off.

The Ministry of Economy and Finance announced an additional 28.6 trillion won ($20.61 billion) in policy finance to respond to tariff-related risks, including supporting business stabilization for affected companies, market diversification and facility investment aimed at strengthening industrial competitiveness.

"Immediately following the launch of the new US administration, the government proactively responded to potential tariff impacts by formulating an interministerial export strategy," the ministry said in a news release after a meeting chaired by acting Finance Minister Kim Beom-seok.

Measures were also taken to enhance the ecosystem of high-tech industries such as semiconductors, artificial intelligence and secondary batteries.

"All resources will be concentrated to minimize the impact of tariffs," said Kim, noting that the government will continue its support for affected industries, including steel and automobiles, as well as expand support for pharmaceutical and semiconductor sectors.

The support system, if rapidly institutionalized and continuously refined, will serve as a solid foundation for navigating global competition, Kim said.

South Korea is facing 25 percent "reciprocal tariffs" on its exports to the US, its second-largest export destination after China. Sectoral tariffs on various products such as automobiles, steel and aluminum were also announced by the US.

South Korea's exports to the US reached $127.8 billion in 2024, according to the Korea International Trade Association. The figure marked the highest annual tally on record.

On Tuesday, South Korea began the second round of technical discussions on tariffs and other trade issues with the US in Washington. The talks are set to conclude on Thursday, according to Yonhap News Agency.

Seoul has proposed to finalize a trade package before July 8, when the 90-day suspension of "reciprocal tariffs" ends. But the government said no agreement will be reached until the launch of a new administration after the snap presidential election on June 3.

Asia's fourth-largest economy has been working to ask the US to lower its tariffs, while the US is expected to demand more imports and lower nontariff barriers.

Amid ongoing tariff pressure, South Korea's exports dropped 2.4 percent to $31.97 billion in the first 20 days of May, with exports to the US falling by 14.6 percent compared with the same period last year, according to data released by the Korea Customs Service on Wednesday.

On the previous day, data from the Ministry of Trade, Industry and Energy showed that the country's automobile exports also recorded a year-on-year decrease of 3.8 percent to $6.54 billion. Shipments to the US were $2.89 billion, a sharp decline of 19.6 percent.

The impact of automobile tariffs on the operating profits of major South Korean automakers such as Hyundai Motor and Kia could reach up to 700 billion won per month this year, South Korean financial services company Kiwoom Securities said in a report on Tuesday.

"Even if (the companies) proactively stockpile inventory in the US, unless exports to the US are completely halted, the 25 percent tariff will inevitably apply during customs clearance for vehicles entering the US," the report said.

South Korean Trade Minister Cheong In-kyo said on Wednesday that the impact of the US tariff measures will be fully reflected in May, leading up to a decline in exports to the US and China.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 欧美亚洲日本 | 国产视频久久久久 | 欧美日韩中文字幕在线观看 | 国产伦码精品一区二区三区 | 免费看欧美日韩一区二区三区 | 国产a一级毛片午夜剧院 | 成人欧美一区二区三区在线 | a级国产乱理伦片在线观看 a级国产乱理伦片在线观看99 | 九九精品国产兔费观看久久 | 男人天堂视频在线观看 | 午夜精品在线 | 97在线免费看视频 | 日韩美女大全视频在线 | 久草在线国产 | 午夜日韩精品 | 一级做a爰性色毛片免费 | 久久精品国产400部免费看 | 亚洲男人的天堂久久香蕉 | 国产成人在线影院 | 国内三级视频 | 久久手机在线视频 | 伊人狠狠丁香婷婷综合色 | 国产丶欧美丶日韩丶不卡影视 | 日产国产精品亚洲系列 | 日本aaaa级 | 一级淫片免费视频 | 在线视频免费观看a毛片 | 免费人成在线观看播放国产 | 成人伊人青草久久综合网 | 日韩亚洲综合精品国产 | 日本www免费视频网站在线观看 | 国产精品亚洲精品日韩已满 | a毛片免费全部播放完整成 a毛片免费全部在线播放毛 | 亚洲性爰视频 | 日韩一级a毛片欧美一级 | 真正国产乱子伦高清对白 | 99久久免费国产精品 | 国产成人午夜性视频影院 | 日本免费人成黄页在线观看视频 | 黄色三级网站 | 日本在线观看免费视频 |