Skyrocketing by 4700% is related to tariffs; South Korea held an emergency meeting.

According to the latest data from the Korea Customs Service, in the first 20 days of this month, the daily total export amount of South Korea decreased by more than 10% year-on-year. Faced with the possibility of long-term uncertainty in the South Korea-U.S. tariffs, the South Korean government, businesses, and economic organizations have organized discussions to come up with countermeasures. The data released by the Korea Customs Service on the 22nd showed that the daily total export amount of South Korea from the 1st to the 20th of this month was $2.43 billion, a 10.6% decrease year-on-year, with exports to the U.S. decreasing even more significantly by 16.4% year-on-year. The Korea Customs Service analysis believes that this is closely related to the U.S.'s tariff imposition policy. In the situation where the tariff negotiations between South Korea and the U.S. are at a standstill, on the 22nd, the Korea Chamber of Commerce and Industry led negotiations on countermeasures, with major companies such as Samsung Electronics, Hyundai, SK, and LG participating, covering semiconductor, nuclear power, shipbuilding, and aviation industries. The enterprises have put forward three urgent demands, including alleviating the tariff burden on strategic industries such as shipbuilding, reducing the impact of tariffs on major export products, and resolving issues related to personnel visas in the investment process with the U.S. The Ministry of Industry and Trade of South Korea also held a discussion meeting yesterday with companies in the steel, aluminum, and related products industry affected by U.S. tariffs, stating that the current export environment is highly uncertain, and will provide additional one-on-one consultation services to ensure that government funds and support policies are implemented effectively.