[Trump Tariff Ruling] Ministry of SMEs to "Closely Examine Impact on SME Sector"

Establishing a Hotline to Communicate with Major Associations and Organizations

On the 21st, First Vice Minister of the Ministry of SMEs and Startups Noh Yongseok commented on the U.S. Supreme Court's ruling invalidating reciprocal tariffs, stating, "While monitoring follow-up developments in the United States, we plan to closely examine the impact on the small and medium-sized business sector together with relevant associations and organizations."

Noh Yongseok, Vice Minister of the Ministry of SMEs and Startups, is briefing on the ministry's 2026 budget proposal at the Seoul Government Complex Annex in Jongno-gu, Seoul, on Sept. 2, 2025. Photo by Jo Yongjun

Vice Minister Noh added, "We will cooperate with the relevant ministries and mobilize necessary measures to protect the interests of exporting small and medium-sized enterprises in a manner that aligns with the national interest."

The Ministry of SMEs and Startups has established a "hotline" with 11 major associations and organizations under the ministry, including the Korea Federation of SMEs, the Korea Venture Business Association, and the Innobiz Association, to share issues and trends related to U.S. tariffs in real time.

The ministry also disseminated and shared the outcome of the latest U.S. Supreme Court ruling with its affiliated associations and organizations on the morning of the same day.

Going forward, once the details regarding whether reciprocal tariffs will be refunded and the related procedures are clarified, the Ministry of SMEs and Startups plans to hold tariff-related briefings and provide customized consulting, together with the Ministry of Trade, Industry and Energy and the Korea Customs Service, in order to minimize confusion and burdens for exporting small and medium-sized enterprises.

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