Seoul: Industry Minister Ahn Duk-geun announced that the government plans to introduce measures next month to support exporting companies facing challenges due to global economic uncertainties impacting semiconductors, automobiles, and other major export items.

According to Yonhap News Agency, Ahn conveyed these plans during a meeting with Yoon Jin-sik, chairman of the Korea International Trade Association (KITA). He highlighted the anticipated difficulties in export conditions for key items, such as semiconductors and automobiles, particularly in the first half of the year. Ahn urged KITA to leverage its global network to create favorable conditions for South Korean companies and to act as a think tank in helping the government devise effective trade policies.

In 2024, exports increased by 8.2 percent year-on-year, reaching a record annual high of US$683.8 billion. However, the industry ministry has indicated that uncertainties surrounding exports are expected to remain high this year, due to factors such as the new U.S. administration and ongoing geopolitical risks. Ahn noted that rising protectionism and supply chain realignments pose significant challenges to South Korea's trade, but assured that the government will work closely with key nations to address these issues.