SEOUL, June 27 (Korea Bizwire) – South Korea’s auto parts sector is bracing for intensified export headwinds as the United States signals a possible expansion of its 25% import tariffs on vehicle components, deepening concerns in an industry already grappling with high trade barriers. On June 24, the U.S. Department of Commerce’s International Trade Administration [...]
SEOUL, June 13 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. are scrambling to assess the impact of Washington’s decision to add home appliances to a list of derivatives subject to a 50 percent steel tariff, according to industry sources Friday. The U.S. commerce department has published a notice on the Federal Register, [...]
SEOUL, May 27 (Korea Bizwire) — A renewed push by U.S. President Donald Trump to impose a sweeping 25% tariff on all foreign-made smartphones, including Samsung’s Galaxy lineup, is stirring deep concern at the South Korean tech giant. The proposed tariffs, expected to take effect as early as next month, are part of Trump’s broader strategy [...]
SEOUL, April 14 (Korea Bizwire) — South Korean smartphone and personal computer makers are staying cautious as unpredictable U.S. tariff policies increase uncertainty around their future production strategies. On Friday, U.S. President Donald Trump’s administration exempted smartphones, computers and some other electronic devices from country-specific reciprocal tariffs, including the 125 percent levies imposed on Chinese [...]
SEOUL, April 8 (Korea Bizwire) — South Korea logged a current account surplus for the 22nd consecutive month in February on rising exports, central bank data showed Tuesday. The country’s current account surplus reached US$7.18 billion in February, following a $2.94 billion surplus the previous month, according to the data compiled by the Bank of [...]
SEOUL, April 1(Korea Bizwire) — South Korean industries stayed vigilant Tuesday over a wave of U.S. tariffs set to take effect this week, fueling concerns over the potential impact on the country’s export-driven economy, industry observers noted. On Wednesday (U.S. time), Washington is set to unveil its reciprocal tariffs, taking into account each country’s tariff [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]