[REUTERS / Yonhap]
SEOUL -- South Korea expressed concern about a Sino-U.S. trade war but said it would have a limited impact on Asia's fourth-largest economy as the superpowers took action against each other, putting Seoul in an awkward position.
On Friday, the United States imposed tariffs on $34 billion worth of Chinese goods. Beijing responded with tariffs on U.S. goods, calling the U.S. trade attack a "textbook trade hegemony".
Amid widespread worries about the trade war between China and the U.S., which are South Korea's largest trading partners, Trade, Industry and Energy Minister Paik Un-kyu said the dispute would have a limited impact on exports, although it increased uncertainties to South Korea's trade industry.
"In the short term, there would be a limited impact on our exports even," Paik told an emergency meeting of government officials and business representatives on Friday.
According to the Korea Institute for Industrial Economics & Trade (KIET), a state-run research institute, exports to China will decrease by $190 million and exports to the U.S. by $50 million.
reporter
Park Sae-jin
swatchsjp@ajunews.com
