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Trade group for top South Korean companies 'sincerely welcomes' US trade deal

( October 30, 2025, 01:18 GMT | Official Statement) -- MLex Summary: The trade group representing leading South Korean companies across sectors said Thursday it “sincerely welcomes” an agreement the country reached with the US on Wednesday outlining detailed terms of its $350 billion investment plan. Representing companies including Samsung Electronics, SK Hynix and Hyundai Motor, the Federation of Korean Industries noted that local companies will now face tariff conditions on major items “that are not disadvantageous compared to those applied to key competitor countries.” It added that the deal will greatly help strengthen the global competitiveness of Korean companies. South Korea announced late Wednesday that it had finalized the remaining details of its agreement with the US, under which it will invest in projects aimed at rebuilding manufacturing capacity in the world’s largest economy in exchange for a tariff cut from 25 percent to 15 percent.The statement, in Korean, is attached....

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