LG Energy Solution Begins U.S. Tariff Refund Process... Refunds Expected to Exceed 100 Billion Won

LG Energy Solution is reported to have completed its application for tariff refunds in April, following a U.S. court ruling that nullified the imposition of tariffs.

According to industry sources on June 7, LG Energy Solution filed for a refund of more than 300 billion won in tariffs after the U.S. Supreme Court ruled in February that the tariffs imposed by the Donald Trump administration were invalid.

The industry currently estimates the refund amount to be around 100 billion won. However, once the refund process is completed, the final refund is expected to exceed this amount.

Earlier in February, the U.S. Supreme Court ruled that the reciprocal tariffs imposed by the Trump administration on the basis of the International Emergency Economic Powers Act (IEEPA) were illegal, making it possible for companies to apply for a refund. Subsequently, the U.S. Customs and Border Protection (CBP) began accepting refund applications from April, and it is estimated that around 6,000 Korean companies are eligible to apply for refunds.

In addition to LG Energy Solution, other Korean companies such as Hyundai Motor, Samsung SDI, and SK On are also expected to file for tariff refunds.

This content was produced with the assistance of AI translation services.