This photo shows cars waiting to be exported at a port in Pyeongtaek, about 65 kilometers south of Seoul. (Yonhap)
This photo shows cars waiting to be exported at a port in Pyeongtaek, about 65 kilometers south of Seoul. (Yonhap)

The government will extend a combined 250 billion won ($182.4 million) worth of low-interest loans to small and medium-sized auto-parts manufacturing firms until the end of next year as part of efforts to help buffer shocks from US tariff measures, the industry ministry said Wednesday.

Auto-parts manufacturers with a record of exporting eco-friendly vehicles since 2024 can apply for the loan program, which will provide a maximum 500 million won in liquidity support per company, according to the Ministry of Trade, Industry and Energy.

The program comes as part of the government's broader plan to support industries suffering from trade uncertainties sparked by the US Donald Trump administration's sweeping tariffs on auto, auto parts, steel and other imports.

South Korea plans to execute 28.6 trillion won in emergency liquidity and financial assistance to support local export companies. (Yonhap)