Hyundai Motor discusses US tariff imbalance on Korean cars at AMCHAM event

This photo provide shows Hyundai Motor President Sung Kim, back row, right, speaking with James Kim, back row, left, head of the U.S. business chamber, in a meeting with the American business community held in Seoul the previous day, Wednesday. Courtesy of the American Chamber of Commerce in Korea

Hyundai Motor President Sung Kim, who oversees the company's global external affairs, has highlighted the current imbalance in U.S. tariffs between Korean and Japanese automobiles in a meeting with the American business community in Seoul, organizers said Wednesday.

In the gathering hosted by the American Chamber of Commerce in Korea (AMCHAM) in Seoul on Tuesday, the Hyundai Motor president and AMCHAM Chief Executive Officer (CEO) James Kim discussed the issue, along with those involving the need for U.S. visa reform and expanding Korean corporate investment in America.

AMCHAM said in a release that a particular focus of the talks was on the "imbalance" in U.S. tariffs, with Japanese automobiles facing a 15 percent duty compared to the 25 percent rate applied to Korean vehicles.

The reduction of U.S. tariffs on Japanese autos to 15 percent from 27.5 percent since Sept. 16 has put Korean auto exports to the U.S. at a disadvantage.

The U.S. has agreed to lower tariffs on Korean autos to 15 percent as well, as part of the bilateral trade deal, but it remains uncertain when the deal will go into force with negotiations over specifics still under way.

In the meeting, co-hosted by law firm Bae, Kim & Lee (BKL), Sung Kim, a former U.S. diplomat-turned-businessman, offered candid insights into "how foreign policy and security issues shape global corporate strategy," the U.S. business chamber said.

AMCHAM's James Kim underscored the urgency of the moment, saying, "We are at a critical moment in the U.S.-Korea relationship."

"With tariff policies under debate in Washington, supply chain security at the forefront, and new opportunities in advanced technology and clean energy, our alliance has never been more vital," he added.