Yu Jun-ho

2 weeks ago | pulse.mk.co.kr | Park Je-one |Han Chang-ho |Yu Jun-ho |Han Yubin

The South Korean government has decided to increase policy funding for the automotive industry to 15 trillion won ($10.4 billion), in response to U.S. tariffs. The move comes after the United States under President Donald Trump began imposing a 25 percent tariff on all vehicles produced outside the U.S. as of April 3 and plans to extend the same 25 percent tariff to auto parts starting on May 3.

2 months ago | pulse.mk.co.kr | Kim Dong-eun |Yu Jun-ho |Han Yubin

South Korea’s auto giant Hyundai Motor Group is accelerating efforts to introduce a package of strategies ahead of the U.S. President Donald Trump’s proposed tariffs on imported vehicles. The package includes expansion of local production, its economic contributions to the U.S., and attractive service programs for U.S. consumers. According to Hyundai Motor Group on Sunday, it will ramp up local production to minimize the effects of tariffs.