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.
Seoul
Source: Forex Live