Industry Minister Ahn Duk-geun, right, speaks at an emergency meeting with local car manufacturers, held to discuss the possible impact of the U.S. administration's plan to impose auto tariffs, in Seoul, in this photo provided by the ministry, March 27. Yonhap

The government will announce emergency response measures to the U.S. administration's planned tariffs on all imported cars next month in an attempt to minimize their apparent impact on the local automotive industry, the industry minister said Thursday.

Industry Minister Ahn Duk-geun made the remarks in an emergency meeting with local car manufacturers, including Hyundai Motor and Kia, according to the Ministry of Trade, Industry and Energy.

The meeting took place shortly after Trump signed a proclamation to impose 25 percent tariffs on all imported cars, light trucks and key auto parts, such as engines and transmissions, sparking fears of further escalation of a global trade war and its impact on the Korean automobile industry.

"With the U.S. government's tariff imposition, our automotive companies are expected to experience considerable difficulties in exports," Ahn said, noting the government will continue negotiating with the U.S. on its trade policies to minimize the damage to local companies.

In 2024, Seoul exported $34.7 billion worth of automobiles to the United States, which accounted for almost half of the country's total auto exports for the year.

Local industry leaders Hyundai and Kia exported a combined 970,000 vehicles to the U.S. last year, and GM Korea, the South Korean unit of General Motors, also shipped 410,000 cars to the U.S., accounting for 85 percent of its total overseas sales.

Shares of Hyundai Motor and Kia had slid 3.83 percent and 2.96 percent, respectively, on the main Seoul bourse as of 11:20 a.m., underperforming the broader Korea Composite Stock Price Index's 0.97 percent drop. (Yonhap)