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Jeonbuk State held a meeting with local companies to discuss ways to minimize impacts from US trade policy
On March 4, Jeonbuk State held a meeting with seven local export companies in Wanju to discuss the challenges companies are facing due to changes in trade policies in the U.S.A.
The meeting was attended by seven companies including Dasan Machinery, TYM, OneSkin Cosmetics, and Daedu Foods.
The companies highlighted major issues such as rising raw material costs due to currency fluctuations, complicated procedures required for entering the U.S. market, and logistics cost burdens, according to Jeonbuk State.
Jeonbuk State plans to actively promote export insurance support programs to mitigate currency losses (losses due to exchange rate increases) for companies.
It is also considering supporting participation in overseas trade fairs to diversify export markets and assisting with overseas certification requirements.
Jeonbuk's governor said, "We will prepare effective support measures to minimize the difficulties faced by local companies due to protectionism and improve their export competitiveness."
doo@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.03.06
Views
46
According to Yonhap News,
On March 4, Jeonbuk State held a meeting with seven local export companies in Wanju to discuss the challenges companies are facing due to changes in trade policies in the U.S.A.
The meeting was attended by seven companies including Dasan Machinery, TYM, OneSkin Cosmetics, and Daedu Foods.
The companies highlighted major issues such as rising raw material costs due to currency fluctuations, complicated procedures required for entering the U.S. market, and logistics cost burdens, according to Jeonbuk State.
Jeonbuk State plans to actively promote export insurance support programs to mitigate currency losses (losses due to exchange rate increases) for companies.
It is also considering supporting participation in overseas trade fairs to diversify export markets and assisting with overseas certification requirements.
Jeonbuk's governor said, "We will prepare effective support measures to minimize the difficulties faced by local companies due to protectionism and improve their export competitiveness."
doo@yna.co.kr
Source Text
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Source: Yonhap News (March 4, 2025)
** This article was translated from Korean.