South Korea Finalizes KRW981.4 Billion Additional Budget to Tackle Trade Risks, Boost Advanced Industries

MT Newswires Live

May 06, 2025

South Korea's Ministry of Trade, Industry and Energy has finalized its 2025 supplementary budget at 981.4 billion won to support companies impacted by tariffs and to bolster advanced industries, according to a press release issued Friday.

The budget includes 670.4 billion won for addressing trade risks, covering tariff response vouchers, trade insurance funds, and measures to secure supply chain stability. An additional 88.8 billion won has been allocated to support small and medium-sized exporters affected by U.S. tariffs.

The ministry also allocated 214.7 billion won for stockpiling critical materials essential to advanced industries, and 16 billion won to support domestic production and the diversification of import sources.

A total of 311 billion won was also earmarked for strengthening the competitiveness of semiconductors, rechargeable batteries, and other advanced industries, the release said.

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