US EditionSouth Korea unveils $25bn plan to survive Trump tariffs
- South Korea increased its support package for the domestic semiconductor industry to 33 trillion won on Tuesday.
- The rising global competition and policy uncertainty in the U.S. Prompted the increased support.
- The support includes financial assistance, low-cost loans, and infrastructure for Yongin and Pyeongtaek.
- Finance Minister Choi Sang-mok anticipated product-specific tariffs for sectors like semiconductors, following Trump's tariff plans.
- South Korea will consult with the U.S. To mitigate negative impacts and shield its export-driven economy.
15 Articles
15 Articles
South Korea seeks to insulate key industries from tariff wars
South Korea is working to secure and bolster its key domestic manufacturing industry to weather the storm of President Donald Trump’s tariff-based trade war. Seoul is deploying a $23 billion support package to stabilize its semiconductor and pharmaceutical industries as…
South Korea to boost support of semiconductor industry in the face of Trump's tariffs - Electronic Products & Technology
South Korea said Tuesday it will expand its financial support package for its crucial semiconductor industry to 33 trillion won (about $23 billion) in part of efforts to address uncertainties posed by the Trump administration’s tariff hikes. The package represents roughly a 26% increase from the 26 trillion won (about $18 billion) announced last year. Officials are focusing on providing low-cost loans, subsidies, and other financial incentives t…
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