The Ministry of SMEs and Startups said on the 21st that it would take steps to protect domestic small and midsize enterprises in connection with the U.S. Supreme Court's ruling nullifying the reciprocal tariff.
On the same day, First Vice Minister No Yong-seok of the Ministry of SMEs and Startups said, "While monitoring subsequent developments in the United States, we plan to closely review the impact on the SME sector together with relevant associations and groups."
He also said, "In a direction that serves the national interest, we will work with relevant ministries to protect the interests of exporting SMEs and mobilize necessary measures."
The Ministry of SMEs and Startups (MSS) has established a "hotline" with 11 major associations and groups under the ministry, including the Korea Federation of Small and Medium Enterprises, the Venture Business Association, and the INNOBIZ Association. Through this, it is sharing issues and trends related to U.S. tariff matters in real time. The results of the latest U.S. Supreme Court ruling were also relayed to affiliated associations and groups on the morning of the same day via the hotline.
Going forward, when specifics such as whether and how reciprocal tariff refunds will be made are clarified, the Ministry of SMEs and Startups (MSS) plans to hold briefings on tariff matters and provide tailored consulting together with the Ministry of Trade, Industry and Resources and the Korea Customs Service to minimize confusion and burdens for exporting SMEs.