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Industry

South Korea says U.S. sets 12.5% \'forced labor\' tariff; next is overproduction

The United States has finalised a 12.5% tariff on South Korean products over forced labor, leaving 2.5 percentage points before a 15% cap set in last year’s trade agreement. The U.S. Trade Representative said the measure, imposed under Section 301, applies across 60 economies and takes effect on July 24. South Korea is in the first group with Japan and Switzerland. Seoul says the U.S. reaffirmed the 15% combined cap as a separate overproduction probe continues.

AI & Enterprise

OpenAI, Anthropic eye Korean startup innovation, pledge more support

OpenAI and Anthropic are accelerating efforts to expand their foothold in South Korea’s startup ecosystem after setting up Korean offices and stepping up their push into the market. They said Korean startups are creating innovative business cases using their AI models and that feedback from startups plays a meaningful role in improving the models. At NextRise Seoul 2026, OpenAI outlined support spanning frontier model access, early-stage assistance and community building, while Anthropic stressed an ecosystem approach and operates its Claude for Startups program.

Finance

Kwon Dae-young says National Growth Fund may consider startups for next investments

Kwon Dae-young (권대영), vice chairman of South Korea’s Financial Services Commission, said startups are being considered as the National Growth Fund’s next investment destination. Speaking after opening remarks at NextRise Seoul 2026 in Seoul, he said participating firms are targets of the fund. He also said 150 trillion won would be invested in advanced strategic industries and urged overseas institutional investors to pay attention to the KOSDAQ market.