South Korea readies aid for small firms facing U.S. tariff risks
- The South Korean government has announced a 4.6 trillion won (US$3.25 billion) support package aimed at small and medium-sized enterprises (SMEs) vulnerable to U.S. tariffs. Measures include financial assistance, logistics subsidies, and export market expansion programs.
- Although SMEs made up 17% of Korea’s exports in Q1, over 80% of them view the suspended 25% U.S. tariffs as a serious threat. The aid comes alongside a broader 13.8 trillion won supplementary budget approved earlier this month, aimed at offsetting weak domestic demand and cushioning the economy from potential trade shocks.
This article was written by Eamonn Sheridan at www.forexlive.com.
