South Korea’s finance ministry announced on Apr. 6, that it will implement support measures for sectors expected to be affected by new United States tariffs.

A 25% tariff on imports from South Korea, announced by US President Donald Trump on Apr. 2, is set to take effect on Apr. 9.

The auto sector, which accounted for 27% of South Korea’s US$127.8 billion exports to the US last year, is a primary focus for these measures.

South Korea’s financial regulator has urged companies and government institutions to prepare liquidity support for exporters and contractors affected by the tariffs.

A 100 trillion won (US$68.08 billion) market stabilization program has also been announced, as the KOSPI index reached a 17-month low amid global market fluctuations.

Trade Minister Cheong In-kyo plans to visit the US to seek negotiations and explore potential tariff exemptions.