South Korea’s Trade Change Response Act took effect on Wednesday, updating the country’s approach to mitigating trade disruptions. The law broadens support to include businesses affected by agreements such as the Indo-Pacific Economic Framework and the Digital Economy Partnership Agreement.

The law replaces one-time financial aid with initiatives focused on technological and managerial innovation. Eligibility criteria have also been relaxed, with businesses experiencing a 5% drop in sales or production now qualifying for support, down from the previous 10% threshold.

WHY IT MATTERS

The legislation highlights South Korea’s bid to protect businesses from a rapidly changing global trade environment. By