Kim Dong-yeon Holds 'Emergency Economic Meeting' to Discuss Tariff Response with Automobile Industry

Gyeonggi Province Governor Kim Dong-yeon will hold an emergency economic meeting for Gyeonggi Province at 2 p.m. on the 31st at the East Pier of Pyeongtaek Port, addressing the automobile industry expected to be directly impacted by the Trump administration's announcement of automobile tariffs in the United States.

The meeting was organized to listen to the difficulties faced by the industry on the ground due to the U.S. import car tariffs from automobile and parts companies in the province, and to explain Gyeonggi Province's comprehensive response plan.

Executives from related companies such as Hyundai Motor Company, HL Clemoove Co., Ltd., HL Mando Co., Ltd., Korea Hukoku Co., Ltd., and Yale Hightech Co., Ltd., as well as automobile industry stakeholders including Professor Kim Pil-su from Daelim University’s Department of Automotive Engineering and Director Oh Yoon-seok of the Automotive Parts Industry Promotion Foundation, will attend the meeting.

Gyeonggi Province Governor Kim Dong-yeon is presiding over the Emergency Livelihood Economy Meeting in December last year. Photo by Gyeonggi Province

Earlier, the U.S. administration announced that it would impose a 25% tariff on imported automobiles starting April 3.

Gyeonggi Province, recognizing the high concentration of the automobile industry in the region, views an urgent provincial-level response as inevitable and is preparing countermeasures.

On the 3rd of last month, Governor Kim Dong-yeon stated on his social media (SNS), "The feared tariff war has begun," and called on the government and political circles to immediately activate the ‘Trump 2nd Term Emergency Response System’ along with three measures: ▲ swift appointment of an ‘Economic Special Envoy’ through bipartisan agreement among the ruling party, opposition, and government ▲ establishment of an export breakwater ▲ rapid preparation of a supplementary budget.

Subsequently, from the 10th to the 15th, Gyeonggi Province dispatched a trade environment investigation team to the state of Georgia, USA, where they met with officials from the Georgia Department of Economic Development to request interest and support for Gyeonggi automobile parts companies, and discussed corporate support policies with the head of KOTRA Atlanta Trade Center and the Chief Operating Officer of the Savannah Economic Development Authority.

This content was produced with the assistance of AI translation services.