KAIA Urges Passage of South Korea-U.S. Strategic Investment Management Bill

The Korea Automobile & Mobility Association issues a statement on Monday at the Korea Automobile Center calling for swift passage of a special law on managing South Korea-U.S. strategic investment. [Photo=KAIA]

The Korea Automobile & Mobility Association (KAIA) on Monday called for the swift passage of a special law on managing South Korea-U.S. strategic investment.

In a statement, KAIA said the industry is increasingly uneasy after reports that the U.S. government is considering raising tariffs on major items, including automobiles, back to 25% from 15%, citing delays in enacting the law agreed to by the two countries in November.

KAIA said the possibility of higher tariffs is adding uncertainty to investment and export conditions for South Korea’s auto industry.

As the shift to future mobility accelerates and large-scale investment becomes more urgent to secure global leadership, KAIA said companies need a predictable and stable business environment. It warned that prolonged uncertainty over tariffs could weaken investment momentum and hurt competitiveness across the broader industry ecosystem.

KAIA said it “strongly” urges swift enactment of the law so companies can minimize external risks and continue investing and exporting in a stable environment.

* This article has been translated by AI.

Oh Jooseok