US tariff deal clears way for Korea’s stablecoin dream

TOKYO – As new South Korean President Lee Jae Myung sets out to revamp Asia’s fourth-biggest economy, he can cross direct US tariff risks off the list of possible spoilers.

Korea’s tariff deal with the US removes a gigantic element of uncertainty as Lee gets to work raising Korea’s economic game. Though the 15% tax on US-bound goods will hurt, getting the uncertainty factor out of the way will enable Korea Inc to move forward.

“It is a case of the worst avoided, with a pinch of relief removing Korea-specific tariff risks,” says Kathleen Oh, chief Korea economist at Morgan Stanley. “It puts Korea on level ground with its export competitors in the US, especially for autos.”