Hyundai Motor has hired Kim Jong-hoon, a former chief negotiator who led a free trade agreement between South Korea and the US a decade ago as its special adviser, the company said Wednesday. The move appears to be part of preparations against growing fears over Trump’s car tariff push.
US President Donald Trump last month reaffirmed his push to slap a 25 percent tariff on imported vehicles to the US.
Kim is a trade expert who led a series of bilateral free trade negotiations between Korea and the US for five years from 2006. Hyundai expects to strengthen its defense line with Kim joining the team, citing his experience of dealing with issues regarding the auto industry during past negotiations.
Korean-made automobiles are currently exempt from US duties under the bilateral trade pact implemented in 2012.
By Cho Chung-un (christory@heraldcorp.com)