The Korean government believes there is a substantial possibility that the United States will launch an investigation into South Korea under Section 301 of the Trade Act and is preparing countermeasures, sources say.
Ambassador to the United States Kang Kyung-wha said at a press briefing at the Korean Cultural Center in Washington, D.C., on the 24th (local time), "Following the US Supreme Court's tariff ruling, we will work to ensure that consultations with the US proceed in a friendly atmosphere."
The government assesses that the US may use a petition filed by Coupang shareholders as grounds to apply Section 301 against Korea. US Trade Representative Jamieson Greer stated earlier that his office would investigate discrimination against digital goods and services by major US trading partners. Under Section 301, the United States can initiate investigations citing unfair treatment by other countries and impose tariff measures.
US-based investors in Coupang, including Greenoaks and Altimeter, petitioned the USTR on February 22nd, claiming that Korean government regulations are discriminatory and punitive, and requesting that the US impose tariffs on South Korea under Section 301. The USTR must decide whether to launch an investigation within 45 days, with the deadline falling on March 7th.
The USTR is currently pursuing binding critical minerals agreements with various countries. Greer recently held video conferences with trade ministers from G7 nations as well as South Korea, India, Australia, and Mexico. However, the Korean government is approaching cautiously, as the "price floor" mechanism for critical minerals sought by the US could impose cost burdens on companies.
Regarding President Donald Trump's planned visit to China from March 31st to April 2nd, Ambassador Kang said, "We are keeping all possibilities in mind regarding the potential for US-North Korea dialogue and are closely monitoring developments."