South Korea allocates $250bn to boost export growth

The South Korean government has allocated $250 billion to support its exporters in anticipation of new tariffs imposed by the United States. This substantial investment is aimed at both aiding low-income families and ensuring the growth of the nation’s export sector, which is vital to the South Korean economy.

The Ministry of Economy and Finance announced this initiative, citing recent challenges such as sluggish domestic demand recovery, slow export growth and increased uncertainty regarding future economic conditions.

The government’s response highlights its commitment to addressing the challenges posed by global trade dynamics, particularly with rising international competition and shifting policies from major economic powers.

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