Ministry of Trade Seeks Countermeasures Against U.S. 15% Tariff on Polysilicon, Vows to Minimize Impact on Korean Companies

Joint Public-Private Policy Meeting to Be Held on August 11

Assessing the Impact on Korean Companies’ Exports and Supply Chains to the U.S.

The government is launching a joint public-private initiative to respond to the United States’ imposition of a 15% tariff on polysilicon. The government plans to take active steps, including direct consultations with the United States, to minimize the impact on Korean companies. Polysilicon is a key raw material for semiconductors and solar panels.

The Ministry of Trade, Industry and Energy announced that on August 11, a meeting will be held at the Korea Chamber of Commerce and Industry, chaired by Deputy Minister for Trade Jeongseong Park, following the U.S. government’s recent announcement of tariffs on polysilicon under Section 232. The meeting will include officials from the Ministry of Climate, Energy and Environment, as well as representatives from Samsung Electronics, Hanwha Qcells, OCI, SK Siltron, and the Korea Semiconductor Industry Association.

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Previously, the U.S. government announced that it would introduce a minimum import price system and impose a 15% tariff on polysilicon derivatives (such as ingots, wafers, and cells) based on Section 232 of the Trade Expansion Act.

The government has been actively responding to related procedures, including submitting a statement of position last August regarding the Section 232 investigation on polysilicon. This policy meeting has been convened to thoroughly examine the impact of the U.S. measures on exports by Korean companies and on the supply chain of those companies operating or investing in the United States, and to devise effective response strategies to minimize any negative impact. During the meeting, the Ministry of Trade, Industry and Energy will explain key details of the Section 232 tariff announcement, and the Semiconductor Association will present on the impact of the U.S. measures on exports of polysilicon derivative products and the supply chain for companies operating in the U.S. Afterwards, discussions will be held with companies about export prospects and response strategies for their U.S. operations.

Building on this meeting, the government plans to maintain close communication with industry stakeholders and to engage actively—including holding talks with the U.S.—in order to minimize adverse effects on Korean companies and exports.

Deputy Minister Park stated, “We will thoroughly review both the short- and long-term impacts of the Section 232 measures on our industry,” adding, “Based on this, the government will do its utmost to provide necessary support to companies in a timely and appropriate manner.”

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