Scheduled to Be Held in Seoul on the 28th, Then in Other Regions
Latest Trends to Be Shared with SMEs
On-site Consultation Booths to Be Operated
The Ministry of SMEs and Startups announced that it will hold an 'Export SME Support Training and On-site Consultation Meeting in Response to the Possibility of Mutual Tariff Imposition by the U.S. Government' on the 28th at the Korea Federation of SMEs in Yeongdeungpo-gu, Seoul.
The on-site consultation meeting, jointly hosted by the Ministry of SMEs and Startups and the Korea Federation of SMEs, is designed to share the latest trends with small and medium-sized enterprises (SMEs) that find it difficult to respond immediately to changes in U.S. tariff policies on steel, aluminum, and their derivatives, and to guide government support policies prepared to minimize damage.
First, the latest trends in U.S. tariff policies and theoretical explanations of tariff policy changes by major products will be provided. Practical, industry-focused content will be explained, including how SMEs should calculate steel and aluminum content, and how to respond when the applicability of tariffs is unclear.
Government support policies for SMEs will also be introduced. The Ministry of SMEs and Startups operates ▲ a fast-track policy fund for companies affected by tariffs ▲ policy funds for local settlement of overseas subsidiaries of domestic SMEs ▲ and 15 export difficulty reporting centers.
The Korea Testing & Research Institute (KTR) will provide information on support for certification acquisition costs necessary during export market diversification through its overseas standard certification acquisition support project. The Korea Customs Service will explain how domestic export companies can easily identify tariff-imposed items based on export declaration item numbers, along with a linkage table between 290 U.S. Harmonized Tariff Schedule (HTS) numbers for steel and aluminum derivative products and Korean Harmonized System (HSK) numbers. The Korea Trade-Investment Promotion Agency (KOTRA) will share frequently asked questions and responses through its ‘Tariff Response 119’ system.
Customized on-site consultations will also be conducted for companies struggling due to changes in U.S. trade policies. The Ministry’s Business Support Group, private export and tariff experts such as Samil PwC, will participate to provide the latest export-related information and practical advice on difficulties. Companies that have not applied in advance can also participate in consultations through on-site registration.
The Ministry of SMEs and Startups plans to hold tariff response training and on-site consultation meetings by region, including Jeolla, Gyeonggi, Chungcheong, and Gyeongsang, starting with the Seoul event next month.
No Yong-seok, Director of SME Policy at the Ministry of SMEs and Startups, said, “Following the tariff imposition on steel and aluminum on the 12th of this month and the announcement of mutual tariff imposition on the 2nd of next month, concerns among our export companies are growing. We have prepared this event to provide tailored information and explain export support policies necessary to enhance the response capabilities of our SMEs.”
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