South Korea Vows Support Biopharmaceutical Auto Sectors Over Us Tariffs 2025 05 20
Reuters1 day
SKorea Bolsters Export Support Amid US Tariff Pressures
Above: Hyundai Motor Co. vehicles bound for shipment in front of a Hyundai Glovis Co. roll-on/roll-off (RORO) vehicles carrier cargo ship in Ulsan, South Korea on March 30, 2025. Image copyright: SeongJoon Cho/Contributor/Bloomberg via Getty Images
The Spin
Pro-government narrative
The administration is taking decisive action to shield South Korea's heavily export-dependent economy from rising U.S. tariffs and global trade shocks. With $20.6 billion in support for key industries like automobiles and biopharmaceuticals and direct talks with Washington, the South Korean government is proactively protecting jobs, stabilizing exports, and securing long-term competitiveness amid global uncertainty.
Government-critical narrative
The administration's scramble to offset U.S. tariffs exposes a deeper failure — years of overreliance on exports have left South Korea dangerously exposed to global shocks. Despite warnings, little was done to diversify or build domestic demand. Now, with cars and biopharma at risk, taxpayers are footing the bill for a vulnerability the government helped create.