Ministry of SMEs and Startups Listens to Challenges Faced by Automotive Parts Companies in Daegu and North Gyeongsang

Rising Burden on Local Exporters Due to Multiple Adverse Factors Such as Tariffs
"Export Support Projects to Be Announced Promptly... Support Tailored to Business Needs"

The Ministry of SMEs and Startups announced on December 4 that it held a meeting for small and medium-sized automotive parts exporters from Daegu and North Gyeongsang Province at Gyeongrim Tech, an automotive parts export company located in Gyeongsan, North Gyeongsang Province.

Automotive parts are a core industry in the Daegu and North Gyeongsang region and account for the largest share of exports among local SMEs. However, due to recent global changes such as the imposition of item-specific tariffs by the United States, the restructuring of global supply chains, and the shift to electric vehicles, small and medium-sized automotive parts companies are facing significant challenges, and the impact in this region is expected to be even greater.

Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, is delivering a greeting at the "On-site Communication Meeting for Realizing the Four Major Global Venture Powers" held at Gwangju Songjeong Station Area Center on the 24th of last month. Ministry of SMEs and Startups

This meeting was organized to listen to the voices from the automotive parts sector in the Daegu and North Gyeongsang region. In addition to the Ministry of SMEs and Startups, key local export support agencies-including the Daegu-Gyeongbuk Regional Office of SMEs and Startups, North Gyeongsang Provincial Government, Daegu Customs Office, Korea SMEs and Startups Agency, and KOTRA-also participated to hear and discuss the difficulties faced by local businesses.

During the meeting, a variety of policy improvement tasks were discussed based on the export experiences of local SMEs. These included: the need for government support to minimize the impact of U.S. tariffs; challenges faced by companies at each stage of export and overseas expansion; the necessity to improve government support systems such as export vouchers; and difficulties with export documentation for indirect exports.

Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, stated, "We plan to promptly announce export support projects so that SMEs can respond in a timely manner to global issues such as U.S. tariffs. In this process, we will reflect on-site feedback as much as possible to ensure that support policies meet the needs of businesses."

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