South Korea's industry minister said on Monday that the country managed to avoid the worst-case scenario by clinching a U.S. tariff deal, but concerns remained over how the profitability of exporters would be affected by a 15% tariff rate.

South Korea’s trade deal with the United States has eased export uncertainties, reducing tariffs to 15 per cent and opening opportunities for Korean companies while the government pledges further support for competitiveness.