Samil PwC and Korea Iron & Steel Association Join Forces to Respond to US Tariffs

Signing of MOU to Support Trade Affairs in the Steel Industry

On May 16, Samil PwC announced that it had signed a memorandum of understanding (MOU) with the Korea Iron & Steel Association on the 15th to provide support for trade-related matters in the steel industry.

At the "Steel Industry Trade Policy Response Business Agreement Ceremony" held on the 15th, Myungsoo Kang, Head of the Global Trade Solutions Center at Samil PwC (left), and Geunho Lee, Executive Vice President of the Korea Iron & Steel Association, are posing for a commemorative photo. Samil PwC

This agreement was pursued to strategically cooperate in response to protectionist trade policies in the steel sector, such as the 25% tariff imposed by the Trump administration in the United States and the strengthening of steel safeguards by the European Union (EU). Through this agreement, both parties plan to provide basic consulting and advisory services on trade remedy measures, including tariff reduction in major export countries beyond the United States, as well as responses to anti-dumping and safeguard actions. They also intend to offer lectures and training sessions for industry stakeholders.

Myungsoo Kang, Head of the Global Trade Solutions Center at Samil PwC, stated, "Samil PwC will do its utmost to help the Korean steel industry turn the challenges it faces concerning tariffs and trade into opportunities."

Geunho Lee, Executive Vice President of the Korea Iron & Steel Association, emphasized, "This agreement will help reduce trade risks arising from the Trump administration's tariff policies and the spread of global protectionism, and will contribute to enhancing the competitiveness of the Korean steel industry in the global market."