| | NOVEMBER 20268IN FOCUSTesla and Samsung have opposed possible new US tariffs on Vietnamese goods, even as other companies press for penalties, according to submissions to the US government. Washington has set a November 29 deadline to conclude a trade investigation, launched in May, into alleged intellectual property violations by Vietnam, which it has placed on its top-tier watchlist for the first time in 13 years. Tesla warned that some advanced components and precision tools cannot be sourced domestically. Samsung's US arm said Vietnam supplies a large share of its smartphones and network equipment for the American market, where it has invested about $25 billion. Steel, seafood and solar producers want new duties. South Korean President Lee Jae Myung has pledged 21.3 trillion won (about $15.97 billion), nearly double this year's level, for AI and three megaprojects: semiconductors, physical AI and AI data centres. Next year's spending is set to rise 12.8 per cent to 820.9 trillion won in a record budget. Lee said the aim is "growth for all", warning that gains from the chip boom remain concentrated among a few regions and companies. Exports are poised to cross $1 trillion this year, and the deficit is projected to narrow to 0.1 per cent of GDP. A 162.3 trillion won Future Response Fund will be financed largely by semiconductor tax revenue. TESLA, SAMSUNG OPPOSE US TARIFFS ON VIETNAM AS DEADLINE NEARSTRADE & GEOPOLITICSLEE VOWS BOLD AI INVESTMENT IN RECORD BUDGET PUSHPresident Lee Jae Myung and German Chancellor Friedrich Merz have agreed to upgrade bilateral relations to an "enhanced strategic partnership" during Merz's official visit to Seoul, his first since taking office. Agreements span defence, technology, energy and trade, including a declaration of intent on an economic and high-tech partnership covering automotive, batteries, industrial AI, smart manufacturing, advanced energy systems and robotics. Both sides also endorsed a protocol amending the double taxation avoidance agreement and pledged deeper defence-industrial cooperation. A state dinner drew over 60 business leaders, among them Hyundai Motor Group's Chung Euisun, POSCO's Chang In-hwa, Siemens CEO Roland Busch and Mahle CEO Arnd Franz. SOUTH KOREA AND GERMANY AGREE TO UPGRADE BILATERAL TIESTECHNOLOGY & SEMICONDUCTORS
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