Economy Politics Country 2026-02-23T20:46:08+00:00

South Korean Minister on Ambiguity Over Tariff Refunds

South Korean Industry Minister Kim Jong-kwan reported on the uncertainty regarding the refund of funds paid by South Korean companies as duties after the U.S. Supreme Court's decision was overturned. He also emphasized that semiconductor chips are not subject to new U.S. tariffs.


South Korean Minister on Ambiguity Over Tariff Refunds

Earlier, the minister during a meeting with business community representatives said South Korea will continue to consult with the United States to maintain the 'balance of interests' reached through the previous tariff agreement. South Korean Industry Minister Kim Jong-kwan said on Monday there is ambiguity over the recovery of funds paid by South Korean companies as customs duties after the U.S. Supreme Court overturned the decision. The minister also told reporters that semiconductor chips are not subject to the tariffs recently imposed by the U.S. president following the court's decision. The minister did not specify what measures South Korea will take.