Samsung, SK, Hyundai Motor, and Others Propose Policies to Resolve Tariff Uncertainties and Request Tax and Financial Support

National Policy Planning Committee Holds Meeting with Nine Industry Leaders
Discusses Key Issues Including US Tariffs and Export Controls
Proposes Incentives for Renewable Energy and Fostering New Growth Engines

Yonhap News

Major export companies such as Samsung Electronics, SK Hynix, Hyundai Motor, and Kia have submitted policy recommendations to the Lee Jaemyung administration, requesting the resolution of uncertainties in tariff negotiations with the United States and the provision of tax and financial support to expand domestic production bases and infrastructure.

On July 9, the Economic Division 2 of the Presidential National Policy Planning Committee met with major export industry companies to discuss the direction of trade and economic security policies. The meeting was held in the conference room of the National Policy Planning Committee, and was attended by executives from nine major companies representing various sectors: Samsung Electronics, SK Hynix, Hyundai Motor and Kia, LG Energy Solution, POSCO, Hanwha Aerospace, HD Hyundai Heavy Industries, Doosan Enerbility, and Lotte Holdings.

During the meeting, the companies proposed several key policy tasks: resolving uncertainties in tariff negotiations with the United States, addressing export control difficulties, and providing tax and financial support for the expansion of domestic production bases and infrastructure. They also suggested support measures for fostering new growth engines such as the defense and shipbuilding industries, incentives for the expansion of renewable energy, and support for business restructuring and low-carbon transition in sectors facing oversupply.

Wi Seongon, a member of Economic Division 2, stated, "We will make every effort to overcome the crisis through pragmatic trade policies that prioritize the national interest and by strengthening industrial competitiveness," adding, "The government and the business community must work as one team to overcome trade challenges."

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