South Korea to Expand Support for Tariff-Hit Auto Industry

marketscreener
2025.11.14 03:45
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South Korea plans to expand policy support for its auto industry with over 15 trillion won ($10.2 billion) in measures, including new loan programs and tariff quotas. This follows a trade deal with the U.S. reducing tariffs to 15%. The government will also increase subsidies for electric vehicles and introduce financing for electric and hydrogen buses. A 50 billion won fund will be set up to promote investment in next-generation vehicles.

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