Industrial Research Institute said, "Trump's exports to the U.S. fall by up to 14% during universal tariffs."

If the universal tariffs pledged by U.S. President-elect Trump are actually imposed, South Korea's exports to the U.S. will fall by up to 14%.

The Industrial Research Institute, a national research institute, released a report titled "2024 Economic and Industrial Outlook".

In the aftermath, Korea's economic growth rate is likely to decrease by 0.1 to 0.2 percentage points next year.

In addition, Korea's economic growth rate is expected to slow slightly next year to 2.1%, compared to 2.2% this year.

Although sluggish construction investment will continue, it is expected that export growth will be maintained and consumption and facility investment will recover smoothly, especially in major industries such as semiconductors.

However, he explained that changes in U.S. economic policy and geopolitical risk factors following the launch of the second Trump administration are likely to put downward pressure on economic growth.