The United States’ planned imposition of a 25 percent auto parts tariff is feared to weigh heavily on Korea’s exports amid the growing strategic importance of the U.S. for local components manufacturers, according to data and industry officials on Friday. The U.S. is Korea’s largest auto parts trade partner. Korean vehicle components makers, particularly in areas such as batteries and electrified parts, face increased risks due to potentially shrinking demand from the world’s largest economy following the upcoming tariffs slated to take effect at 1 p.m. Saturday, according to the Ministry of Industry, Trade and Energy. According to data from the Korea International Trade Association (KITA), Korea’s proportion of auto parts exports to the U.S. has been on the rise in recent years. The figure reached 29.5 percent in 2020, but soared to 36.5 percent last year. This was driven by growing demand for batteries, motors and other parts for electric vehicles (EVs). The electrified parts accounted for the largest segment in Korean auto parts exports to the U.S., with their combined valu
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