The Blue House announced on January 18 that it would engage in consultations to minimize the impact on Korean companies in response to the Trump administration's move to impose tariffs on semiconductors, in accordance with the principle of "no less favorable treatment" agreed upon between South Korea and the United States.
An official from the Blue House stated, "When South Korea and the United States released the joint fact sheet on tariff negotiations last year, it was clearly specified that 'no less favorable conditions compared to major countries' would be applied to South Korea in the semiconductor sector," explaining the government's position.
The official also explained that the government would closely analyze the details of the agreement between the United States and Taiwan, communicate with the industry, and consult with the United States. This indicates an intention to negotiate so that Korea does not end up in a less favorable position than Taiwan, a major competitor in semiconductors.
On January 14 (local time), U.S. President Donald Trump signed a proclamation imposing a 25% tariff on semiconductors imported into the United States and then re-exported to other countries.
The White House previously indicated that "President Trump may impose broader tariffs on the import of semiconductors and their derivatives in the near future to encourage domestic manufacturing in the United States, and may introduce a corresponding tariff offset program."
In response, Yeo Han-koo, Trade Minister for Trade Negotiations at the Ministry of Trade, Industry and Energy, explained at the airport upon returning from the United States the previous day, "This measure is focused on advanced chips from Nvidia and AMD, those two types, and does not include memory chips, which are the main export products of Korean companies."
However, he emphasized, "We cannot be reassured yet, as we do not know when or in what form the second phase of measures might be expanded."
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