Operation of "Trump Second-Term Trade Policy Response Task Force (TF)"
Discussion of support measures including financial aid, export consultations, and market expansion
Ulsan City is preparing measures to respond to the Trump administration's second-term trade policies.
The city announced that it will hold an "Export-Related Agencies Countermeasure Meeting" at 10:30 a.m. on March 5 in the medium conference room on the 4th floor of the city hall main building.
The meeting was organized to minimize damage to local export small and medium-sized enterprises (SMEs) caused by the U.S. imposition of 25% tariffs on steel and aluminum starting in March, as well as additional tariffs on automobiles and semiconductors, and to discuss support measures.
About 10 people will attend the meeting, including Lee Young-hwan, Director of the City’s Corporate Investment Bureau; Lim Tae-hoon, Head of the Export Team at Ulsan Small and Medium Venture Business Administration; Park Mi-jung, Head of the Ulsan Regional Headquarters of the Small and Medium Business Promotion Corporation; Park Sun-min, Head of the Ulsan Regional Headquarters of the Korea International Trade Association; Park Byung-guk, Head of the Ulsan Support Headquarters of the Korea Trade-Investment Promotion Agency (KOTRA); Shin Min-chul, Head of the Ulsan Regional Headquarters of the Korea Trade Insurance Corporation; and Lee Joon-ho, Head of the Corporate Support Department at the Ulsan Economic and Job Promotion Agency.
The meeting will begin with a briefing by Park Sun-min, Head of the Ulsan Regional Headquarters of the Korea International Trade Association, on ▲Ulsan’s export trends and U.S. trade policies, followed by sharing ▲export support projects by each agency and corporate difficulties, and focusing on discussing ▲cooperation measures at the local government level.
In particular, attendees are expected to present various opinions on support measures needed by companies in areas such as financial support, export consultations, and market expansion.
Lee Young-hwan, Director of the Corporate Investment Bureau, said, “In the rapidly changing trade environment, our region’s major export items are expected to be directly and indirectly affected. We will actively respond to promote stable growth of exports in the Ulsan area and do our best to expand exports of local SMEs.”
Ulsan City plans to operate a "Trade Policy Emergency Response Task Force (TF)" led by Kim Hyun-hee, Head of the City’s Investment Attraction Division, as a communication channel to promptly respond to corporate difficulties.
In addition, a field meeting with export companies will be held in March to provide close support activities on site, and the city will closely cooperate with local export-related agencies to share issues such as preparing corporate support measures.
The city will also pursue export market diversification. Trade delegations and Middle East market development teams will be dispatched to Singapore, Vietnam, and other countries to help expand overseas networks and secure new sales channels.
Along with this, to proactively resolve difficulties faced by export SMEs and provide timely support to companies in crisis, the city plans to execute early spending of 2.012 billion KRW, which is 80.5% of the total budget for the first half of the year.
In particular, 197 million KRW for export insurance premium support projects to alleviate risks caused by exchange rate fluctuations and 100 million KRW for international express overseas logistics cost support projects to resolve export-import logistics will be executed within this month.
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