[K-Beauty] South Korea's SME minister pledges export support amid US tariff concerns

South Korean Minister of SMEs and Startups Han Seong-sook/ Yonhap

SEOUL, August 07 (AJP) - South Korean Minister of SMEs and Startups Han Seong-sook said Wednesday the government will help maintain global competitiveness in key export sectors, including K-beauty and used cars, amid rising trade tensions with the United States.

Han made the remarks during a meeting with export-focused small and medium enterprises (SMEs) at a logistics center, owned by a beauty product retailer Silicon2, located in Gwangju, south of Seoul. The session focused on tariffs and exports, addressing challenges faced by SMEs due to US tariff measures.

"The government will support sectors where private companies have pioneered export leadership, helping them maintain their global number one competitiveness," Han said. She pledged assistance through funding, overseas market expansion, and global platform cooperation.

According to the Ministry of SMEs and Startups, South Korean small businesses recorded 56.7 billion dollars in exports during the first half of 2025, a 3 percent increase from the same period last year. However, seven of the top 10 export categories, excluding cosmetics, used cars, and semiconductor equipment, showed year-on-year declines, indicating significant industry variations.

Han acknowledged concerns over the 15 percent mutual tariff implementation and promised additional support measures beyond existing export vouchers and emergency management stabilization funds. She emphasized plans to provide timely information on tariff criteria and develop online export activation measures as lower-risk alternatives for small exporters.

Candice Kim candicekim1121@ajupress.com