GWANGJU < invest Korea

According to Yonhap News,

On February 4, Gwangju-si announced that it will expand the 'Home Appliance Industry Competitiveness Enhancement Support Team,' which has been operating since last year, into the 'Export Industry Competitiveness Enhancement Support Team.'

This expansion aims to mitigate regional economic shocks and ensure efficient responses amid the rising economic uncertainties in South Korea, caused by factors such as a tariff war by the second Trump administration.

The city plans to broaden the support team's focus from the home appliance industry to the entire export sector, including the automobile industry, and to implement a proactive response and management system.

The team will closely examine the situations of local companies, their responses, and the impact on the region stemming from the global tariff war. They will collect feedback from the field and develop countermeasures.

In particular, the team plans to listen to the concerns and opinions of major companies and their suppliers in the automobile and home appliance sectors, which have a relatively high proportion of exports to the U.S., and formulate strategies to address them.

Mayor Kang stated, "With the rapid changes in both domestic and international circumstances increasing concerns about the local economy, we will take proactive measures in the overall export industries, including our key sectors such as automobiles and home appliances."

cbebop@yna.co.kr

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Source: Yonhap News (February 4, 2025)