financetom
Business
financetom
/
Business
/
South Korea to help small, medium-sized firms hit by tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
South Korea to help small, medium-sized firms hit by tariffs
May 26, 2025 7:21 AM

SEOUL (Reuters) -South Korea has prepared support measures for small and medium-sized firms expected to be hurt by U.S. tariffs, the government said on Wednesday.

The measures include financing support worth 4.6 trillion won ($3.25 billion), subsidies to ease the burden of logistics costs, and other policies to help expand export markets.

While their exports accounted for 17% of South Korea's total exports in the first quarter, 81% of small and medium-sized enterprises considered themselves vulnerable to 25% tariffs introduced by the Trump administration in early April but later suspended for 90 days, the government said in a statement.

Earlier this month, South Korea approved an extra government budget of 13.8 trillion won, including spending plans for tariff responses, to bolster an economy grappling with weak domestic demand and the potential impact of U.S. tariffs.

($1 = 1,416.7000 won)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Starwood Property Trust Launches 17.5 Million Share Underwritten Public Offering
Starwood Property Trust Launches 17.5 Million Share Underwritten Public Offering
Sep 3, 2024
04:41 PM EDT, 09/03/2024 (MT Newswires) -- Starwood Property Trust ( STWD ) said Tuesday it is selling 17.5 million shares in an underwritten public offering. The offering includes a 30-day option for underwriters to buy up to an additional 2.6 million shares, according to the company. Starwood plans to use net proceeds from the offering to purchase additional commercial...
Floor & Decor President Trevor Lang to Retire
Floor & Decor President Trevor Lang to Retire
Sep 3, 2024
04:42 PM EDT, 09/03/2024 (MT Newswires) -- Floor & Decor Holdings ( FND ) said late Tuesday that President Trevor Lang has decided to retire from the company. The company said it has initiated a search for Lang's successor. ...
Innocan Says FDA
Innocan Says FDA "Positive" on it Liposomal Technology-CBD Drug
Sep 3, 2024
04:31 PM EDT, 09/03/2024 (MT Newswires) -- Innocan Pharma ( INNPF ) , on Tuesday said it received a positive response from the U.S. Food and Drug Administration (FDA) for its lead drug product Liposomal Technology-CBD (LPT-CBD). The FDA has agreed for LPT-CBD's submission under the 505(b)(2) New Drug Application by establishing a scientific bridge to the reference listed drug....
UL Solutions Launches Secondary Offering of Common Shares
UL Solutions Launches Secondary Offering of Common Shares
Sep 3, 2024
04:44 PM EDT, 09/03/2024 (MT Newswires) -- UL Solutions ( ULS ) said Tuesday it has started an underwritten public offering of 20 million class A shares. The offering comprises shares to be sold by selling shareholder UL Standards & Engagement, UL Solutions ( ULS ) said. The underwriters will have a 30-day option to buy up to an additional...
Copyright 2023-2026 - www.financetom.com All Rights Reserved