42.8% of small and medium enterprises responded that they were affected in terms of exports or sales due to the imposition of tariffs on steel, aluminum, and derivative products by the United States.
On the 31st, the Ministry of SMEs and Startups and the Korea Federation of Small and Medium Enterprises announced the results of a survey titled 'Survey on the Impact of U.S. Tariffs on Steel and Aluminum on Small and Medium Enterprises.'
The survey was conducted from March 17 to 26 with 600 small and medium enterprises.
Among the difficulties faced by small and medium enterprises due to U.S. tariff imposition (multiple responses), 41.8% of companies stated that the most significant issue was "difficulty in accurately understanding U.S. tariff policy." This was followed by increased logistics costs due to tariff risks (38.2%) and costs incurred from diversifying export markets (36.5%).
Among the responding companies, 32.5% appeared to be preparing for tariff responses, and the most common preparations included (multiple responses) efforts to reduce internal expenses such as production costs (52.8%), discussions with U.S. partners regarding tariff burdens (51.8%), and participation in briefings by relevant agencies for information gathering (30.8%).
Regarding necessary government support measures to respond to tariff imposition (multiple responses), "provision of tariff-related information" topped the list at 51.3%, followed by strengthening logistics cost support (46.7%), policy funding support (40.5%), and consulting on tariffs by law and accounting firms (24.8%).
Among the companies responding that they are exporting derivatives, 43.4% reported facing difficulties in exports, and the required government support measures (multiple responses) included specialized consulting for verifying the U.S. Harmonized System code (42.4%), consulting on calculating steel and aluminum content (41.4%), and handling paperwork for customs procedures (33.5%).
Chumun Gap, the Head of the Economic Policy Division at KBIZ, noted, "As the tariff war of the Trump administration spreads global protectionism, the management uncertainty for small and medium enterprises is increasing." He emphasized the need for the government to actively respond with policies tailored to small and medium enterprises, which lack expertise and information.