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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

25% US tariff on Korean automobiles takes effect

The United States, Korea's largest automobile export destination, began slapping a 25 percent tariff on imported automobiles and related parts Thursday, alarming Korea’s automobile industry. The tariff, which took effect at 1 p.m., applies to completed automobiles, engines, transmissions, electronic parts and powertrains, making Korean exports to the U.S. more expensive and less competitive against U.S.-made products that are exempt from the levy. No U.S. tariffs had been imposed on Korean cars since 2016 under a bilateral free trade agreement. The U.S. market last year accounted for 49.1 percent of Korea’s entire automobile exports. Out of $70.8 billion, exports to the U.S. were worth $34.7 billion. Hyundai Motor Group led the way, exporting 970,000 cars, while GM Korea shipped 410,000 automobiles. U.S. President Donald Trump said at the While House on Wednesday (local time) that the U.S. will begin implementing reciprocal tariffs on products imported from countries it trades with, but the auto sector was excluded from the measure. In response to the auto tariff, acting President and

Apr 3, 2025By Ko Dong-hwan
25% US tariff on Korean automobiles takes effect

Korea hit with highest tariff rates among US free trade partners

Korea has been hit with the highest reciprocal tariff rate among the 20 countries that have free trade agreements (FTAs) with the United States. With it clear that Seoul had failed to persuade Washington to impose lower tariffs on Korean products compared to those from major exporters like Japan and the European Union, concerns are growing over Korea's diplomatic approach and future trade negotiations with the U.S. The White House announced on Wednesday (local time) that the U.S. will impose a 25 percent reciprocal tariff on Korea, while charging 24 percent on Japan and 20 percent on EU member states. Although an earlier chart presented by U.S. President Donald Trump indicated that Korea's tariff rate would be 25 percent, the White House later corrected the figure, updating it to 26 percent in an executive order annex on its website. The higher tariff on Korea apparently stems from Trump's claim that the country has effectively imposed 50 percent tariffs on U.S. products when accounting for exchange rates and nontariff barriers. "Reciprocal tariffs are calculated as the tariff rate necess

Apr 3, 2025By Park Jae-hyuk
Korea hit with highest tariff rates among US free trade partners

Hydrogen cars, EVs take center stage at Seoul Mobility Show

GOYANG, Gyeonggi Province — At this year’s edition of the Seoul Mobility Show, vehicles powered by hydrogen energy, electricity, or both are in the spotlight as the global auto industry transitions toward sustainable, eco-friendly mobility. The largest auto show in Korea opened with much fanfare on Thursday, with hopes of shedding light on the direction of future mobility. Major global carmakers, such as Hyundai Motor, Kia and BMW, participated in the exhibition to showcase their latest auto lineups and visions for sustainable mobility. According to the event’s organizing committee, a total of 451 firms from 12 countries participated in the 2025 Seoul Mobility Show — the largest in its history — to showcase their technological prowess in breaking the boundaries of land, sea and air. Hyundai Motor, one of the most influential carmakers both domestically and internationally, captured the spotlight by unveiling its latest fuel cell electric vehicle — the all-new NEXO — for the first time in the world. The completely redesigned hydrogen car made its global debut after the launc

Apr 3, 2025By Lee Min-hyung
Hydrogen cars, EVs take center stage at Seoul Mobility Show

LG Innotek, KAIST join hands to develop future technologies

LG Innotek is partnering up with the Korea Advanced Institute of Science and Technology (KAIST) to work toward developing future technologies and fostering talent, the company said Thursday. According to the electronics component affiliate of LG Group, it signed a memorandum of understanding (MOU) with the university to collaborate on research in areas such as optics, semiconductors, mobility and robotics. The partnership will also focus on securing talent in these fields over the next three years. "This cooperation will be an important driving force for LG Innotek to expand its business portfolio from mobile to semiconductors, mobility and robotics,” CEO Moon Hyuk-soo said. The agenda for this collaboration includes developing technologies for next-generation imaging, detecting microdefects on a substrate, autonomous vehicle sensors and control systems for robotic components. LG Innotek possesses fundamental technologies in substrates and sensing and control systems, as well as experience in optics and substrate businesses. Meanwhile, KAIST is recognized for its expertise and research

Apr 3, 2025By Lee Gyu-lee
LG Innotek, KAIST join hands to develop future technologies

Aekyung Industrial’s K-beauty market share at risk amid potential sale

Aekyung Industrial, once among Korea’s top three beauty product makers, is likely to be put up for sale. Aekyung Industrial announced Thursday that Aekyung Group is considering selling its 63.38 percent stake in the company, currently held by its holding company, AK Holdings. The country’s beauty product industry, currently dominated by Amorepacific, LG H&H and APR, is expected to see a shake-up if Aekyung Industrial finds a new owner. Depending on who buys the company, Aekyung could focus on either market expansion through brand renewal or raising profitability by downsizing brands. Aekyung Industrial CEO Kim Sang-joon said Tuesday the sale is “one of the most feasible options the group has come up to improve its financial condition.” The anticipated sale comes after the group experienced underperformance by its subsidiaries last year. Aekyung Industrial registered sales of 679 billion won ($463 million), a 1.5 percent increase from the previous year, but operating profit dropped by 24.4 percent to 46.8 billion won. Department store AK Plaza posted sales of 295 billion won ($201

Apr 3, 2025By Ko Dong-hwan
Aekyung Industrial’s K-beauty market share at risk amid potential sale

Aseptic carton water and recycling initiatives drive change

As industries worldwide intensify their sustainability efforts, the hospitality sector is embracing environmentally conscious changes at a rapid pace. Last year, the government enforced regulations prohibiting hotels and lodgings with 50 or more rooms from offering complimentary single-use amenities to reduce plastic waste. In response, many hotels have transitioned to reusable alternatives, implemented energy-saving systems and adopted sustainable management practices. Among these efforts, reducing plastic consumption has become a key priority, leading to significant changes in how hotels provide drinking water. One of the most notable shifts has been replacing plastic water bottles with aseptic cartons. A leading example is Four Seasons Hotel Seoul, which has replaced plastic water bottles with water in aseptic cartons labeled Deep Sea Water — an exclusive version of Deep Water by iN Natural Dream — across its guest rooms, banquet halls, spa and fitness center. The initiative aligns with the hotel's long-term sustainability strategy. This shift is part of a broader global movement,

Apr 3, 2025By Lee Gyu-lee
Aseptic carton water and recycling initiatives drive change

KCCI urges close coordination between Seoul, Washington over Trump's reciprocal tariff policy

The Korea Chamber of Commerce and Industry (KCCI), a major South Korean business lobby, on Thursday called for close communication and policy coordination between Seoul and Washington following U.S. President Donald Trump's announcement of reciprocal tariffs. On Wednesday (U.S. time), Trump announced a 10 percent "baseline" tariff on imports from all trading partners and "reciprocal" tariffs, including 25 percent duties for South Korea -- a culmination of his drive to curtail America's trade deficits and strengthen domestic manufacturing. "The reciprocal tariff policy marks a significant shift that could affect not only South Korea-U.S. trade but also the broader global trade order," the KCCI said in a statement, adding that it would closely monitor the policy's potential impact. The chamber stressed the importance of the trust between the countries built on their long shared history and a bilateral free trade agreement (FTA), also underscoring that South Korean companies have actively contributed to the U.S. economy with massive investments in key sectors, including semiconductors and

Apr 3, 2025By Yonhap
KCCI urges close coordination between Seoul, Washington over Trump's reciprocal tariff policy

KORUS FTA loses shine, but stays central in overcoming tariff threats

With the Donald Trump administration implementing reciprocal tariffs on all countries, the fate of the Korea-U.S. Free Trade Agreement (KORUS FTA) is facing mounting questions, with experts expressing concerns that the new tariffs could significantly undermine its benefits. However, experts said the trade pact serves as the foundational framework for trade between Seoul and Washington and an important tool for trade negotiations with the U.S., noting the likelihood that the Trump administration will demand a revision to the agreement Washington on Wednesday (local time) imposed a 25 percent duty on all imports from Korea, with Trump listing the country on what he called the "worst offender" list. Trade between Korea and the U.S. has been largely free from tariffs under the KORUS FTA, which took effect in 2012, but the Trump administration has argued that bilateral trade remains unfair. Last year, Korea posted a record trade surplus of $55.7 billion with the United States. This increase is largely attributed to the expansion of intermediate goods exports, as more Korean companies establis

Apr 3, 2025By Nam Hyun-woo
KORUS FTA loses shine, but stays central in overcoming tariff threats

Korean chip industry wary despite exemption from US reciprocal tariff

With U.S. President Donald Trump's announcement of a 25 percent tariff on Korean imports, Korea's semiconductor industry let out a sigh of relief Thursday for being excluded but remained cautious as sector-specific tariffs loomed near. The White House on Wednesday (local time) said some goods, including semiconductors, steel and automobiles, would not be subject to the new tariff plans, imposing a minimum 10 percent "baseline" tariff on exports from all countries to the United States and country-specific "reciprocal" tariffs that include 25 percent duties for Korea. Industry officials remained vigilant as the U.S. administration has signaled separate sector-specific duties for those items. Korea's leading chipmakers, Samsung Electronics and SK hynix, have not issued official statements, but they are actively discussing strategies to mitigate risks from any future trade policies. "There are still uncertainties," said an official from a Korean semiconductor company, who asked not to be identified. "The global semiconductor value chain is highly complex, and major U.S. tech companies play a

Apr 3, 2025By Yonhap
Korean chip industry wary despite exemption from US reciprocal tariff

Will Seoul-Beijing-Tokyo FTA emerge against Trump?

A trilateral economic ministers' meeting between Korea, China and Japan is prompting speculation that the three countries may reach a long-delayed free trade agreement (FTA) amid U.S. tariff threats. For now, however, Korea remains cautious about leveraging this solidarity, wary that it could be perceived as a challenge to U.S. President Donald Trump. Trump announced, Wednesday (local time), plans to impose 25 percent "reciprocal" tariffs on Korea. China and Japan face respective new rates of 34 percent and 24 percent. Industry Minister Ahn Duk-geun held a trilateral meeting Sunday with his Chinese and Japanese counterparts, Wang Wentao and Yoji Muto, respectively, marking the first such gathering since 2019. Even though the Ministry of Trade, Industry and Energy — committed to continuing discussions with the two Asian economic powerhouses on the agreement — described the meeting as another milestone in trilateral cooperation, it also emphasized that it did not necessarily pave a shortcut to finalizing a trilateral FTA. “We have been discussing the FTA for quite some time. The joint

Apr 3, 2025By Ko Dong-hwan
Will Seoul-Beijing-Tokyo FTA emerge against Trump?
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