Kim Tae-heum, Governor of Chungnam, Provides Emergency Support of 100 Billion Won to Export Companies Amid Tariff War

"High Export Dependency in Key Industries Raises Concerns...
Province Prepares Emergency Measures"

Chungnam Governor Kim Taehum is announcing the province's countermeasures against the global tariff measures originating from the United States at the provincial government press center on the 14th.

Chungnam Province will support local export companies in response to President Trump's global tariff measures.

On the 14th, Governor Kim Tae-heum of Chungnam held a press conference at the provincial government press center and announced an emergency support plan centered on financial aid totaling 100 billion KRW.

According to the plan, the province will increase the scale of preferential interest rate loans from Nonghyup and Hana Bank by about 50 billion KRW, and utilize 20 billion KRW from this year's main budget, originally allocated for business stabilization, as emergency funds for export-affected companies.

Additionally, the Chungnam Credit Guarantee Foundation will provide 30 billion KRW in credit-guaranteed loans.

Previously, the province formed an "Emergency Response Task Force (TF)" led by Vice Governor Jeon Hyung-sik, and held its first meeting on the 11th to prepare these measures.

Governor Kim stated, "With a high proportion of manufacturing and export-oriented industries in the province, there are concerns about potential damages," adding, "We have prepared emergency measures at the provincial level to minimize the impact, rather than relying solely on the central government."

Going forward, the TF team will gather feedback from companies on the ground and provide legal consultations related to trade.

In addition, the province plans to expand overseas marketing support by enabling 425 export companies to participate in 19 export consultation events this year, including the World Korean Business Convention.

Governor Kim said, "Although the nation is facing a chaotic situation, now is the time to come together with wisdom," and added, "We will also prepare mid- to long-term measures such as expanding research and development and solutions for workforce supply to enhance industrial competitiveness."

Meanwhile, last year, Chungnam's exports to the United States amounted to 11.614 billion dollars, ranking fourth nationwide.