Emergency measures include new logistics routes, increased shipping capacity and liquidity support for affected firms
The South Korean government announced measures on Wednesday to mitigate potential export disruptions caused by the U.S. East Coast port workers’ strike, which began on Tuesday. The industry ministry stated that shipments to North America remain unaffected by the strike because South Korean exporters had preemptively redirected goods to West Coast ports, and local production in sectors like automobiles and batteries remains stable due to sufficient inventories.
In preparation for a prolonged strike, the government is implementing emergency measures, including expanding support through the Korea Trade-Investment Promotion Agency’s (KOTRA) logistics centers on the U.S. West Coast and Mexico. The government is also providing additional shipping capacity for small businesses and offering liquidity assistance to companies facing payment delays.
The South Korean government announced measures on Wednesday to mitigate potential export disruptions caused by the U.S. East Coast port workers’ strike, which began on Tuesday. The industry ministry stated that shipments to North America remain unaffected by the strike because South Korean exporters had preemptively redirected goods to West Coast ports, and local production in sectors like automobiles and batteries remains stable due to sufficient inventories.
In preparation for a prolonged strike, the government is implementing emergency measures, including expanding support through the Korea Trade-Investment Promotion Agency’s (KOTRA) logistics centers on the U.S. West Coast and Mexico. The government is also providing additional shipping capacity for small businesses and offering liquidity assistance to companies facing payment delays.
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