[Seocho-gu, Seoul, May 15, 2025 (Thursday)] Samkwangwintech SPR Soonbaek Jung participated in a meeting held by the Korea Automobile Industry Cooperative to respond to the imposition of US tariffs.

The meeting was held to listen to the difficulties of the auto parts industry in the changing global environment, including the business difficulties of small and medium-sized enterprises due to the imposition of 25% tariffs by the United States and the transition to future vehicles, and to discuss countermeasures.

SPR Soonbaek Jung expressed concern that the US tariffs are negatively affecting the entire domestic auto parts supply chain, and that small and medium-sized suppliers in particular are facing severe business pressure. He also suggested that responses such as emergency business funding for SMEs affected by the tariffs are needed to alleviate the crisis.

In response, the Ministry of SMEs and Startups announced that it has established a 'Trade Risk Emergency Fund' worth KRW 100 billion to support related industries such as auto parts, steel, and aluminum, whose business environment is likely to deteriorate due to the imposition of tariffs.

In addition to Hyundai Motor officials, various automotive-related SMEs such as Mobil Tech and Motor Engineering participated in the meeting, and discussed various policy issues such as ▲ support for export certification costs for the development of future vehicles ▲ and activation of joint ventures between large and small companies to secure local investment and production bases in the United States.

Samkwang plans to continue to maintain its competitiveness and sustainable growth in the changing global environment as it conveyed the voice of the field and formed a policy consensus through this meeting.