讀後心得

In response to the United States' Trump administration imposing a 25% import tariff on cars, South Korea plans to provide approximately 3 trillion won (about 2 billion dollars) in emergency aid to support its domestic automotive industry. Experts predict that the tariffs will lead to an 18.6% decline in South Korean car exports to the United States and may result in price increases, affecting the economy. The South Korean government will hold a ministerial meeting this week to approve the aid plan and will facilitate funding through state-owned institutions such as the Korea Development Bank. Additionally, Jaguar Land Rover has announced a suspension of shipments to the United States to assess the impact of the new tariffs. In the future, the South Korean government also plans to establish a strategic fund of 50 trillion won to support the development of mobility technology.

In response to the series of tariffs imposed by the U.S. president, South Korea plans to provide potential emergency assistance of up to 3 trillion won (approximately 2 billion USD) to its domestic automotive industry, in order to mitigate the impact of the 25% import tariff on vehicles. Furthermore, the British luxury car manufacturer Jaguar Land Rover has announced that it will suspend shipments to the U.S. this month. Reports indicate that the South Korean government plans to hold a cross-ministerial meeting at the ministerial level this week to approve this emergency assistance measure, as the U.S. tariffs on imported vehicles have made South Korea one of the most severely affected countries.

Automobiles are a crucial export item for South Korea, with exports to the U.S. expected to reach 34.7 billion USD in 2024, accounting for nearly half of its overall automobile export volume. Experts warn that the new tariffs from the U.S. will force South Korean cars to increase in price in the U.S. market, significantly impacting the South Korean economy. According to estimates from the IBK Economic Research Institute, the number of South Korean cars exported to the U.S. is expected to decrease by 18.6% due to the tariffs.

An official from the Ministry of Planning and Finance stated that the amount of this assistance plan could reach 3 trillion won, but the specific amount has yet to be determined. According to sources familiar with the situation, once the government approves the plan, funds will be allocated through various channels, including state-run lending institutions, with the Korea Development Bank providing emergency assistance funds based on existing lending plans. In addition, KDB and other state-run lending institutions will propose a funding plan of up to 248 trillion won within this year to help businesses overcome the current adverse global operating environment and restructure the industry.

The South Korean government also plans to establish a strategic fund of 50 trillion won to support the development of future mobility technologies, responding to the changing economic environment. Following the U.S. implementation of a 25% tariff on all imported cars starting from the 3rd, Jaguar Land Rover announced on the 6th that it would suspend exports to the U.S. in April to assess the impact of the new tariffs. They stated that they would work to address the issues arising from the new trade regulations and would pause short-term actions, including shipments, in order to formulate a medium- to long-term development plan.

There are widespread predictions that the escalating trade war will have a significant impact on the global automotive industry, particularly on highly globalized supply chains and automakers that are heavily reliant on the North American market.