South Korea’s acting President Han Duck-soo has announced emergency support measures for businesses affected by newly imposed US tariffs, which include a 25% rate on South Korean exports.

This decision has raised concerns in Seoul about its potential impact on the export-driven economy.

Han has instructed the industry minister to review the tariff details and communicate with Washington to address the effects.

Trump’s tariff policy targets South Korea and Japan, citing unfair trade practices. Analysts worry about the economic consequences, especially for key export sectors like automobiles and electronics.

South Korea’s KOSPI index fell 2.7%, with automakers and chipmakers facing substantial losses.

Finance minister Choi Sang-mok said that authorities would use available tools to stabilize financial markets if necessary.