{"id":2207782,"date":"2025-01-02T08:00:12","date_gmt":"2025-01-01T23:00:12","guid":{"rendered":"https:\/\/koreapro.org\/?p=2207782"},"modified":"2025-01-01T15:40:48","modified_gmt":"2025-01-01T06:40:48","slug":"south-korea-launches-new-law-to-shield-businesses-from-trade-shocks","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2025\/01\/south-korea-launches-new-law-to-shield-businesses-from-trade-shocks\/","title":{"rendered":"South Korea launches new law to shield businesses from trade shocks"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s <\/span><a href=\"https:\/\/www.motie.go.kr\/kor\/article\/ATCL3f49a5a8c\/169998\/view?mno=&amp;pageIndex=1&amp;rowPageC=0&amp;displayAuthor=&amp;searchCategory=0&amp;schClear=on&amp;startDtD=&amp;endDtD=&amp;searchCondition=1&amp;searchKeyword=#\"><span style=\"font-weight: 400;\">Trade Change Response Act<\/span><\/a><span style=\"font-weight: 400;\"> took effect on Wednesday, updating the country\u2019s 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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The legislation highlights South Korea\u2019s bid to protect businesses from a rapidly changing global trade environment. By emphasizing innovation over short-term remedies, the government aims to future-proof its industries against disruptions driven by digitalization and supply chain shifts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Small and medium-sized enterprises, which form the backbone of South Korea\u2019s export economy, are poised to benefit most from the new law. The expanded access to government support will likely strengthen their capacity to overcome trade challenges, bolstering South Korea\u2019s resilience and competitiveness in the global marketplace.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s Trade Change Response Act took effect on Wednesday, updating the country\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2207783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24],"class_list":["post-2207782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea launches new law to shield businesses from trade shocks - Korea Pro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2025\/01\/south-korea-launches-new-law-to-shield-businesses-from-trade-shocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea launches new law to shield businesses from trade shocks - Korea Pro\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s Trade Change Response Act took effect on Wednesday, updating the country\u2019s 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. 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