U.S. President Donald Trump is pictured before boarding Air Force One at the Naval Air Station Joint Reserve Base in New Orleans, Feb. 9. AP-Yonhap

Fears are growing among Korea's major industries as the export-reliant economy is feared to become the next target for U.S. President Trump's threats to slap tariffs on any countries reporting a trade surplus with Washington.

Tensions are ever heightening as Trump said on Sunday (local time) that he would announce the target countries for reciprocal tariffs sometime this week. The tariffs are aimed at imposing equivalent tariffs for the U.S.' trading partners that levy taxes on U.S. imports.

In theory, Korea will not be directly affected by the latest threat due to the Korea-U.S. Free Trade Agreement (KORUS FTA), which waives most duties on U.S. imports shipped to here. However, experts and industry officials said Monday that industries should remain vigilant, as Trump's saber-rattling remarks are becoming a reality.

"We have no choice but to increase our U.S. production to minimize possible repercussions from Trump's trade pressure, but as he did not slap any specific tariffs on Korea, we have to wait and see for the time being," an official from a major manufacturing firm here said.

Though the tariff differences between Korea and the U.S. do not exist in 98 percent of traded items, Seoul's $66 billion trade surplus with Washington last year is triggering fears that the U.S. may come up with additional measures to impose duties.

"It won't affect everybody, because there are some where we have similar tariffs, but the ones that are taking advantage of the United States, we're going to have a reciprocity," Trump said.

For now, automobiles and chips are the two most vulnerable sectors, as their exports to the U.S. accounted for more than half of Korea's total exports last year.

According to data from the Ministry of Trade, Industry and Energy, car exports to the U.S. reached $70.8 billion (102.8 trillion won), the highest among all export items. Exports of semiconductors to the U.S. also soared by 123 percent to $10.3 billion in 2024 from a year earlier.

Experts urge local manufacturing firms to focus on expanding their U.S. production and minimize use of Chinese parts to brace for possible trade pressure from Trump.

"The focus of Trump's trade war is on any countries with a significant trade surplus with the U.S., and Korea will not be an exception," said Kim Dae-jong, a professor of business administration at Sejong University.

Samsung, Texas, Korea and United States flags hang in front of the Samsung semiconductor chip plant in Taylor, Texas, Jan. 2. EPA-Yonhap

Big manufacturing players such as Hyundai Motor and Samsung Electronics as well as retail powerhouses, including Paris Baguette and Shinsegae Group, are moving to expand their U.S. production, and other firms are urged to follow in their footsteps amid growing trade risks in the era of Trump, according to the professor.

Retailers and food firms without any production lines in the U.S. are feared to suffer losses unless they invest in building production facilities there.

For instance, Samyang, best known as producer of the Buldak instant noodle lineup, is reporting soaring sales in the U.S., with its subsidiary there attaining combined sales of some $190 million for the first three quarters of 2024, up 126 percent from a year earlier.

The company, however, does not operate any production facilities in the U.S., leaving it highly vulnerable to Trump's tariff risks.

Other companies consider building local production lines there. Last year, Orion, a confectionery firm, shared plans to build a manufacturing facility in the U.S. if annual sales for any of its products tops 30 billion won there.

Yang Ji-won, senior researcher at the Korea International Trade Association, urged Korea's government and private sector to join forces to preemptively expand their U.S. outreach.

"Korea is advised to make preemptive preparations for the possibility of a prolonged tariff war with the U.S.," she said.