South Korea Prepares for Tariff Impact on Major Conglomerates

South Korean Acting President Han Duck-soo announced urgent government support for businesses facing potential impacts from reciprocal tariffs imposed by the Trump administration. The meeting included leaders from major conglomerates such as Samsung, LG, SK, and Hyundai Motor, aiming to strategize against potential economic challenges.

The South Korean government, led by Acting President Han Duck-soo, is taking swift action in response to the Trump administration's plans to enforce reciprocal tariffs. These measures aim to provide support to businesses likely hit hardest by the trade policy shifts, according to a report by Yonhap.

During a recent meeting with top executives from major conglomerates, including Samsung, LG, SK, and Hyundai Motor, Han discussed strategies to mitigate the impending economic impact. The government's focus is on crafting a robust support structure for these pivotal industries.

This proactive approach underscores South Korea's commitment to safeguarding its economic interests amid global trade tensions. The move comes as part of a broader effort to stabilize the business environment for major corporations facing international policy changes.

(With inputs from agencies.)