Reported 10 days ago
South Korea has announced emergency measures to support its auto industry hit by a new 25% tariff on imported vehicles imposed by the US. The measures include financial assistance, tax reductions, and expanded subsidies to ensure domestic demand remains strong and to mitigate potential losses. The government aims to bolster negotiations with the US to avoid disadvantageous treatment compared to other allies and is encouraging automakers to explore growing markets in developing regions.
Source: YAHOO