According to Yonhap News,

The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) will begin recruiting companies for the "Tariff Response Voucher" program starting from April 2nd to support businesses concerned about the impact of U.S. tariff measures.

The MOTIE plans to prioritize support for companies that export directly to the U.S. from domestic or overseas production hubs in China, Canada, or Mexico.

KOTRA will provide a "Tariff Response Package" service through local partners verified by overseas trade offices. The package includes over 500 new services in four areas: damage analysis, response measures, production hub relocation, and the discovery of alternative markets.

Selected companies will be able to receive tariff damage analysis consulting connected with local law firms, as well as production hub relocation site surveys and recommendations using real estate agencies.

Additional services include finding overseas production partners (OEM), conducting market status research for entering alternative markets, and discovering potential buyers.

The MOTIE stated that "we have prepared the 'Tariff Response Voucher,' which provides services linked with overseas experts, unlike the existing export vouchers to minimize the damage to small and medium-sized exporters from the U.S. tariff measures, ."

wise@yna.co.kr

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Source: Yonhap News (April 2, 2025)

** This article was translated from Korean.