A recent analysis by the central bank indicates that if the U.S. administration’s tariff policy continues, the automobile industry will be hit the hardest among South Korea’s industries.

According to a report titled “U.S. Tariff Policy Export Impact by Product,” released by the Bank of Korea(BOK) on Thursday, automobile exports to the U.S. will likely decrease by zero-point-six percent based on GDP exports and four percent based on export volume.

The BOK based its analysis on the assumption that the U.S. tariff rate will remain at the current level of ten percent for the “reciprocal” tariffs and 25 percent for tariffs on steel, aluminum, automobiles and auto parts.

The central bank said the automobile industry will be hardest hit due to the proportion of automobile exports to the U.S., which stood at 47 percent in 2024.

The BOK says since the tariffs were imposed in early April, their impact on exports has not yet been fully reflected and will become more apparent in the future.