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Korea Herald
12-03-2025
- Automotive
- Korea Herald
[KH Explains] Korean EV battery-makers uneasy as Trump stays silent on tariffs
Trump could target battery materials sourced from China, sources say South Korean battery companies are closely monitoring the second Donald Trump administration's potential imposition of tariffs on key battery materials produced in Korea. The concern follows the enforcement of 25 percent duties on Korean steel and aluminum that took effect Wednesday, with additional tariffs expected next month. While electric vehicle batteries are currently exempt from the proposed tariffs — set to be enforced on April 2 and covering Korean-made automobiles, semiconductors and pharmaceuticals — escalating trade uncertainties under Trump could further challenge Korean battery-makers. Chinese reliance 'Domestic companies are preparing for the possibility of tariffs on battery materials, such as cathodes (which are shipped from Korea to the US), given the increasing trade disruptions. The Trump administration mentioned this possibility last year,' said an industry source at the InterBattery Expo, a major battery industry event that took place last week in Seoul. 'They have raised these concerns with the Ministry of Trade, Industry and Energy before the minister's visit to the US last month for the first ministerial-level meeting,' the source added. 'Most precursors — raw materials for cathodes such as nickel, cobalt and manganese — are imported from China. The US could argue that this amounts to China's 'indirect exporting' and use it as grounds for imposing duties,' the source explained. Notably, cathode materials account for approximately 40 percent of an electric vehicle's cost. Kim Tae-hwang, an international trade professor at Myongji University, echoed these concerns, noting that the likelihood of tariff imposition on battery materials is high. 'Many of Trump's trade policies are essentially 'veiled measures' aimed at blocking China's indirect exports or dumping into the US,' he said. According to Reuters on Dec. 18, 2024, Trump's transition team reportedly recommended levying tariffs on all imported battery materials to encourage local production before negotiating exemptions with allies. If such tariffs are imposed, the entire battery value chain could be disrupted, leading to a loss of price competitiveness for material suppliers and a surge in production costs for cell manufacturers. Korean battery materials producers — particularly Posco Future M and EcoPro BM — have sought to reduce their reliance on China by building cathode production plants in partnership with General Motors and BlueOval SK, a joint venture between SK On and Ford Motor. However, these efforts face new obstacles following the US' proposed 25 percent tariffs on all imports from Canada, which threatens access to critical minerals from North America. End to IRA credits? The potential tariff imposition on battery materials has also reignited concerns over whether Trump might revisit his campaign pledge to abolish the Inflation Reduction Act, which provides a $7,500 consumer subsidy for EV purchases. Although the IRA prohibits EV batteries from containing raw minerals sourced from a "foreign entity of concern" — such as China — Korean battery-makers, who heavily depend on low-cost precursors and graphite from China, have been granted a two-year grace period on battery material regulations until 2026. However, Trump could refuse to extend this leniency, citing concerns over China's influence, industry sources warn. According to data from the Korea International Trade Association, Korea exported $1.7 billion worth of cathode materials to the US in 2024. Under the IRA, cathodes and anodes are classified as essential EV battery materials, allowing Korean-made products to qualify for US tax benefits due to the Korea-US Free Trade Agreement. Experts suggest that while Trump may threaten to scrap the IRA, he is more likely to use it as a bargaining tool in tariff negotiations with Korea rather than follow through with a full repeal. "Scrapping the IRA could cost thousands of jobs and spark backlash from the public and even within the Republican Party, as many Korean companies operate production facilities in Republican strongholds," said Kim. 'Trump is more likely to reduce tax incentives or demand additional investments, using the IRA as leverage in other negotiations with Korea — such as increasing defense spending, strengthening cooperation in shipbuilding or boosting imports of American pork.' In January during his first week back in office, Trump issued 26 executive orders, including one titled 'Unleashing American Energy,' which immediately paused IRA-related funding designated for accelerating clean energy initiatives in the US.
Korea Herald
28-02-2025
- Politics
- Korea Herald
Constitutional court dismisses petition against abolition of Myongji University Go dept.
South Korea's Constitutional Court dismissed a petition by students challenging Myongji University's decision to abolish its Baduk Studies (Go) Department, ruling that the change did not violate the principle of trust protection in college admissions. On Dec. 23, the court unanimously ruled to reject the constitutional appeal filed by 18 students, who claimed that the Korean Council for University Education had wrongfully approved Myongji University's changes to its 2025 college admission plan without proper review. The dispute arose when Myongji University, which operated the world's only Go Studies Department, decided to shut down the program and cease admissions for the 2025 academic year. This move led to a last-minute modification of the university's admission plan, which was approved by the KCUE in April 2023, less than a year before the scheduled entrance exam. Under current regulations, South Korean universities are required to follow a pre-announcement system for college admissions, ensuring that policies are established well in advance to safeguard applicants' trust. The petitioners argued that the KCUE's approval of Myongji University's plan violated this policy, infringing upon their rights as prospective students. However, the Constitutional Court ruled that the KCUE's approval of the admission plan change is not subject to a constitutional petition. It determined that the KCUE's approval of Myongji University's plan was merely an intermediate administrative procedure, not an authoritative decision that could be challenged through a constitutional appeal. The Constitution restricts constitutional complaints to cases where fundamental rights have been violated by the exercise of public authority. Moreover, the court emphasized that the KCUE lacks delegated or entrusted authority from the Ministry of Education to approve changes to admission plans. As a result, its actions do not constitute an exercise of government power subject to constitutional review. Myongji University's Department of Baduk Studies will stop admitting new students starting in 2025. Founded in 1997, the department decided to close due to declining interest in Go, financial difficulties and the need for change in the university's academic structure.
Korea Herald
19-02-2025
- Politics
- Korea Herald
What to expect at President Yoon Suk Yeol's criminal trial
Insurrection leader charge ruling expected by July, life sentence looms On Thursday, for the first time in South Korean history, a sitting president will be tried in a court of criminal law, beginning another high-profile legal battle against suspended President Yoon Suk Yeol, who is charged with leading an insurrection and abuse of power. Thursday's pretrial hearing at the Seoul Central District Court will mark the start of a trial that could last up to six months, feature key witnesses, and lead to life imprisonment. Under South Korean law, prosecutors can hold a defendant in custody for up to six months after indictment, meaning Yoon could remain detained until July 25 unless the court grants him bail or rescinds his arrest. If the court fails to deliver a verdict by the end of July, the case will proceed without detention. Unlike Yoon's impeachment trial, which focuses on his alleged constitutional violations, his criminal trial will delve into his specific offenses under criminal law, and will determine whether his botched imposition of martial law was a justified action or an attempted insurrection led by him. While the two trials differ in nature, legal experts believe Yoon and his lawyers will argue that his martial law declaration was not an act of leading an insurrection and will likely frame the trial itself as political persecution by the prosecution. This criminal trial will determine Yoon's fate, with some experts predicting a life sentence in the initial ruling due to the severity of the charge: leading an insurrection. While according to the Criminal Act, those convicted of leading an insurrection face either the death penalty or life imprisonment, Yoon is unlikely to receive the death penalty since his martial law declaration did not actually result in deaths or injuries, unlike past cases that resulted in severe human rights violations, one legal expert said. 'Unlike ex-President Chun Doo-hwan, who was responsible for the 1980 Gwangju massacre that left at least 160 dead, Yoon's martial law declaration did not cause significant injuries or deaths. I expect the court to sentence him to life imprisonment rather than the death penalty,' said Noh Hee-bum, a former research judge at the Constitutional Court. As he did at the Constitutional Court, Yoon is expected to argue that his martial law declaration was merely a 'warning to the opposition' or an attempt to 'enlighten' the public on how opposition parties supposedly paralyzed his administration's agenda and undermine the Constitution, according to another legal expert. 'He will deny the allegation that he led an insurrection. I personally think Yoon, who is a former career prosecutor and legal professional, knows he cannot be acquitted in the criminal trial. But he will likely attempt to sway public opinion and unite his far-right supporters by raising multiple controversies and politicizing the trial,' said Lee Yun-ju, a law professor at Myongji University. Lee said that politicizing his trial would be the only way Yoon has left to remain valuable to his ruling People Power Party and to secure a potential special pardon, provided the PPP retains power in the upcoming presidential election. 'Different attempts will be made by Yoon's legal representatives to postpone the trial's procedures. Yoon already filed a request at the Seoul Central District Court to rescind his arrest warrant. But I expect the first trial verdict to be made within six months, because there is enough evidence against him,' Lee said. 'The Seoul Central District Court's decision to stop assigning new cases to the division that is tasked with handling Yoon's case (and other cases in regard to his martial law declaration), proves the court's intention to conduct swift trial,' a prosecutor-turned-lawyer who requested anonymity told The Korea Herald. The lawyer explained that the court can reduce or suspend a division's caseload to expedite cases that, if delayed, could spark prolonged debate in society. 'If the case is not concluded within the period of his arrest warrant and Yoon is released from detention, the prosecution will be severely criticized. Considering the seriousness of the matter, the prosecutors will not attempt to create any controversy by dragging out the trial,' the lawyer said. What to expect after Constitutional Court ruling If the court confirms his impeachment and removal from office, Yoon will lose the presidential immunity granted under Article 84 of the Constitution, which shields the president from criminal prosecution except for cases of insurrection or treason. This immunity allowed prosecutors to indict him only for leading an insurrection in January, but if lifted, they could pursue additional charges, such as committing abuse of power, potentially leading to another criminal trial. However, Yoon's criminal liability could get more complex if the Constitutional Court does not confirm his impeachment, according to legal experts. 'If the president is indicted and detained on charges of leading an insurrection, he cannot be immediately released and reinstated. Yet, political uncertainty could reach an unprecedented level if the court keeps Yoon in detention,' said Noh. Legal experts warn that a fierce debate could begin over revoking his arrest warrant, possible reinstatement and whether there still needs to be an acting president. The prolonged absence of an elected president could lead to significant instability and confusion. But, Noh sees the possibility of Yoon's release from detention as extremely low, believing the court will not approve either his bail request or petition to rescind his arrest warrant. "A president is granted the privilege of not being criminally prosecuted while in office, except for crimes of insurrection or treason," he said. "As the president has been indicted with detention, Finance Minister Choi Sang-mok will continue to serve as the acting president,' he said. Though being the first sitting president to go on trial for criminal charges, Yoon is not the first president to be criminally charged. Criminal trials were held for four past presidents -- Chun Doo-hwan, Roh Tae-woo, Lee Myung-bak and Park Geun-hye -- before Yoon. None of them were serving as president at the time they were arrested. The most recent case involves ex-President Lee, who was charged in April 2018 on 16 criminal counts including embezzlement and bribery. A district court found him guilty of seven counts and sentenced him to 15 years in prison in its first trial verdict in October 2018. However, Lee only spent two years and six months in prison, as he was pardoned in 2022 by Yoon himself. Prosecutors indicted then-President Park with detention on multiple charges, including bribery, abuse of power and coercion in April 2017. In its 2018 ruling, the court found Park guilty of 16 out of the 18 charges and sentenced her to 24 years in prison. Park was then jailed for four years and nine months, as she was pardoned by subsequent President Moon Jae-in. Chun and Roh were the first two former presidents to be placed under arrest in 1995. They were each indicted on charges of insurrection, treason, bribery and corruption in January 1996. Seoul District Court sentenced Chun to death and handed down a prison term of 22 years and 6 months to Roh with its first trial verdict in August of the same year. Though the Supreme Court confirmed the lower court's ruling that sentenced Chun to life imprisonment and Roh to 17 years and six months, the two former presidents were pardoned by former President Kim Young-sam in 1997, after serving two years in prison.
Korea Herald
17-02-2025
- Business
- Korea Herald
Korea eyes LNG imports from US to avert Trump's tariff threats
Trade minister heads to Washington for tariff talks, with LNG imports topping the agenda as bargaining chip The South Korean government is likely to propose increasing imports of liquefied natural gas from the United States as a quid pro quo to maintain zero tariffs on Korean-made automobiles, steel and aluminum under the second Trump administration. According to industry sources on Monday, Deputy Trade Minister Park Jong-won will visit Washington, DC, from Monday to Friday to meet with senior officials from the Department of Commerce and the US Trade Representative. The visit aims to gather details on Trump's tariff plans and convey Korea's stance on the matter. Later this month, Industry Minister Ahn Duk-geun is also expected to visit the US for negotiations with his American counterparts, including Howard Lutnick, the nominee for Secretary of Commerce. While the US has not specified its tariff plans for Korea, Trump announced that, starting March 12, a 25 percent tariff will be imposed on steel and aluminum imports from all countries, with automobiles potentially facing tariffs from April. Notably, Korea has benefited from zero tariffs on cars since 2016, with the US market accounting for 49.1 percent of Korea's automobile export revenue as of last year. Industry insiders expect the Korean government to use LNG imports from the US as a bargaining chip to neutralize potential tariffs, particularly on automobiles. Aligned with his strategy to expand domestic oil production, Trump has vowed to increase natural gas exports by easing regulations on local producers. Following Trump's push for increased LNG exports, the state-run Korea Gas Corporation, which manages roughly 80 percent of the country's LNG imports, is reportedly considering selecting several US LNG producers as preferred bidders for long-term supply contracts. If Korea replaces its decadeslong supply agreements with Qatar and Oman, which ended late last year, with US contracts, the import value is projected to reach approximately $4.6 billion. This figure represents 8.3 percent of Korea's $55.7 billion trade surplus with the US from the previous year, signaling a potential reduction in the US trade deficit. Korea has imported an average of 8.98 million tons of LNG annually from the Middle East since the 1990s. 'If Korea becomes a key trade partner in LNG, Trump could possibly walk back on his tariff plans for the country,' said Kim Tae-hwang, an international trade professor at Myongji University. 'Japan has already entered into an import agreement with the US, and the EU is currently in discussions to do the same. Korea's Industry Minister is likely to use LNG imports as leverage in discussions with US officials.' Despite the potential trade benefits, significantly boosting LNG imports could impose additional costs on Korea's energy companies, which would need to convert power plants from oil to LNG. However, Kim emphasized that alternative options for increasing US imports, such as agricultural products, are limited. 'We already import a significant amount of agricultural products from the US,' Kim said. 'Further raising that number could be challenging due to competition with Australia and potential backlash from local farmers.' Kim also recalled that Korea used the LNG strategy during negotiations with the first Trump administration as the US sought to reduce its trade deficit with Korea. However, the deal did not materialize, as it was set aside during the Biden administration, which temporarily paused LNG terminal expansions. Hwang Yong-sik, a business professor at Sejong University, echoed Kim's view, highlighting that a long-term LNG deal could benefit both nations. 'The LNG contract is a long-term deal of at least 10 years,' Hwang noted. 'If Korea could guarantee that to the US, it could be a boon for Trump's initiative to revitalize the LNG industry — an integral contributor to the US economy.'
![[Herald Gallery] Yongang Imsulchob](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F02%2F12%2Fnews-p.v1.20250211.aa3e95a7eb9b492bb5bad8a3f63527a2_T1.jpg&w=3840&q=100)
Korea Herald
12-02-2025
- Entertainment
- Korea Herald
[Herald Gallery] Yongang Imsulchob
S2A Gallery, located in Gangnam-gu, Seoul, is hosting its New Year special exhibition, "Stroke and Ink: Three Maestros," until March 22. This exhibition explores the connection between Korean tradition and contemporary aesthetics, focusing on the artistic worlds of three great masters: Gyeomjae Jeong Seon (1676–1759), Chusa Kim Jeong-hui (1786–1856) and Yun Hyong-keun (1928–2007). Notably, "Yongang Imsulchob" by Jeong Seon, a leading Joseon-era painter who pioneered true-view landscape paintings beyond the conventional framework of conceptual landscape art, will be on public display for the first time in ten years. This masterpiece represents the essence of true-view landscape painting. The exhibition has been further enriched by the participation of Yoo Hong Jun, chair professor at Myongji University. Special lectures on Jeong Seon and Kim Jeong-hui are also scheduled as accompanying events.
