Search
On April 9, the South Korean government introduced an emergency aid package worth KRW 3 trillion (roughly USD 2 billion) to mitigate the adverse effects of US tariff policies on its automotive sector. This plan entails increasing low-cost financing for the automotive industry by 15%, bringing the total to KRW 15 trillion, through state-owned banks and financial institutions. The Hyundai Motor Group and its subsidiary Kia Motors will join forces with financial institutions and credit guarantee funds to establish a special KRW 1 trillion financing program specifically designed to support auto parts manufacturers. Additionally, the South Korean government has extended electric vehicle purchase subsidies until the end of the year and has designated autonomous driving technology as a national strategic priority, offering tax incentives to bolster market demand.
-
C114 Communication Network -
Communication Home
