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60 percent of Korean manufacturers exposed to U.S. tariff risks: survey

Published: 01 Apr. 2025, 16:29

U.S. President Donald Trump speaks in the Roosevelt Room of the White House in Washington on March 3. [AFP/YONHAP]

Over half of Korean manufacturing firms consider themselves at risk related to U.S. tariffs expected to take effect this week, a poll showed Tuesday.

According to the recent survey carried out by the Korea Chamber of Commerce and Industry (KCCI) on 2,107 domestic manufacturing companies, 60.3 percent said they were likely to be impacted by tariff policies under U.S. President Donald Trump.

Of the respondents, 46.3 percent said they would be indirectly affected, while 14 percent said they would be directly affected.

Firms likely to be impacted the most include those that supply components and raw materials to U.S. exporters, at 24.3 percent, followed by those that export finished goods directly to the United States, at 21.7 percent.

In terms of response, 45.5 percent of the companies said they are currently monitoring related developments, while 29 percent said they are exploring internal measures, such as cutting production costs.

“The mounting tariff threats from the U.S., coupled with China's price competition, are likely to inflict serious damage on Korean manufacturers,” a KCCI official said.

Yonhap