Korea and the U.S. discuss semiconductor tariffs so that Korea is not disadvantaged

Minister of Trade, Industry and Energy Kim Jungkwan said in Washington, D.C., that South Korea is continuing consultations in accordance with the principles of the KoreaU.S. agreement so that it will not be disadvantaged compared with rival countries amid U.S. pressure over semiconductor tariffs. He emphasized that during last year’s tariff negotiations, the United States said it would give South Korean semiconductors treatment that would not be disadvantageous compared with rival countries, and explained that discussions are proceeding with the same intent. The U.S. Secretary of Commerce recently signaled tariff policies for semiconductors, pressuring production within the United States, and there are also discussions that the U.S. government may expand the scope of tariff application to finished products. Accordingly, the South Korean government and industry are keeping an eye on the impact this could have not only on semiconductors but also on export industries such as home appliances. Regarding the background behind the delay in announcing the first project related to investment in the U.S., Minister Kim declined to make specific comments, but said there has been no change to the existing plan to complete it in September after going through domestic procedures.