Acting President Han Deok-soo: ”We will announce emergency support measures for the auto industry by next week... We will put all our efforts into close negotiations with the U.S.”

On the 3rd, Prime Minister and Acting President Han Deok-soo said in response to the US imposition of reciprocal tariffs, "We will announce emergency support measures by next week for the automobile industry, which will be subject to tariffs starting today."
" Han held the 3rd Emergency Economic Security Strategy Task Force meeting at the Prime Minister's residence in Samcheong-dong, Jongno-gu, Seoul on the same day and said, "
"In this crisis situation, the government will make every effort to negotiate with the US to minimize damage to businesses," he said.
"It will change the very structure of the supply chain and act as an inflection point in reorganizing the global economic order. It could place a heavy burden on South Korea's export-led economy."
"Relevant ministries and agencies will also work together to quickly prepare support measures for vulnerable sectors and industries, including small and medium-sized enterprises. We will immediately promote a visit to the U.S. by the head of the trade negotiations department," he said.
"Along with close negotiations with the US, it is also important to transform Korea's industrial and economic structure in line with the trade order that will be restructured in the future," he said.
"We will use the US tariff measures as an opportunity to fundamentally improve the structure of Korean industry and dramatically streamline irrational systems and practices," he said.
"We will work to ease the suffering of Korean companies, who are facing difficulties both at home and abroad due to tariff measures and sluggish domestic demand," Han said.
"In order to overcome this trade crisis, cooperation from the political world is essential. I ask for bipartisan cooperation from the perspective of the national interest."