Automobiles for export are parked at a port in the southeastern port city of Ulsan on Jan. 14. (Hyundai Motor Co.)
Automobiles for export are parked at a port in the southeastern port city of Ulsan on Jan. 14. (Hyundai Motor Co.)

The industry ministry on Thursday hosted a meeting with South Korean businesses operating in Mexico to find ways to address US President Donald Trump's renewed pledge to impose a 25 percent tariff on goods imported from the Latin American nation.

The meeting was arranged as Trump instructed federal agencies to review the US-Mexico-Canada Agreement for possible improvements and pledged to impose new tariffs on imports from the two countries beginning as early as Feb. 1.

"South Korean businesses have been operating in Mexico with a focus on the automobile and electronics industries to utilize tariff-free benefits under the USMCA," the Ministry of Trade, Industry and Energy said, noting the proposed measures are expected to heavily affect the South Korean companies in Mexico if implemented.

Samsung Electronics Co. currently operates home appliances and TV factories in Mexico, with LG Electronics Inc. and Kia Corp. also having production lines there.

The government will continue to closely monitor the Trump administration's trade policies with Mexico, the ministry said.

"During uncertain times, businesses and the government need to work as a single team to seek communication and cooperation," Deputy Minister for Trade Park Jong-won said during the meeting, adding Seoul will also reach out to the Mexican government to minimize negative impacts on South Korean firms. (Yonhap)