The mid-sized business community called the South Korea-U.S. tariff talks "the realistic best achieved under a harsh international order" and stressed that "going forward, various policy support is needed to expand export financing, provide overseas market information, and otherwise reduce dependence on specific countries, including the United States, while boosting resilience."
On the 30th, the Federation of Middle Market Enterprises of Korea (FOMEK) said in a commentary, "The government's agreement in tariff negotiations with the United States—such as structuring the $350 billion investment in the U.S. as $200 billion in cash partitioning with an annual cap of $20 billion and $150 billion in shipbuilding cooperation—is the best outcome achieved under the harsh logic of power in the international community."
It added, "Not only the 'Masga Project' but also the entirety of the $20 billion in annual cash should be thoroughly reviewed and rigorously managed, based on close public-private communication, so that losses do not increase for our corporations, Korea's national interest, and our foreign exchange market."
Regarding the finalized automobile tariff rate, it said, "The confirmation of the 15% reduction in automobile tariffs, which had been promised but delayed, will serve as an important turning point to resolve uncertainty across related industries and enhance management stability."
However, on the 50% tariff measure imposed on steel and aluminum derivative products, it argued, "By promptly lifting unilateral trade sanctions such as the 50% tariff on steel and aluminum derivative products, which directly affect countless industries, we must prevent a decline in the competitiveness of our industries."
It added, "The mid-sized business community will do its utmost to establish unshakable, distinctive technological competitiveness under any future circumstances, and to build a leading global status for the South Korean economy through more proactive investment in research and development (R&D) and by pioneering overseas markets."