Choi Sang-mok, acting President and Minister of Strategy and Finance, emphasized on the 5th that "in response to the mutual tariff measures scheduled by the United States on the 2nd of next month, intensive discussions should take place this month in the working-level consultative body between South Korea and the United States."
Acting Minister Choi held a "foreign economic issues meeting" at 9 a.m. in the Government Seoul Headquarters in Jongno-gu, Seoul, and stated, "We should discuss based on the concerns identified through the recent video conference with the U.S. Secretary of the Treasury, as well as the meetings between the Minister of Industry and the U.S. Secretary of Commerce and the U.S. Trade Representative, in addition to the consensus between the two countries."
Attending the meeting were Bang Gi-seon, head of the Office for Government Policy Coordination, Sung Tae-yoon, head of the President's Policy Office, Kim Hong-kyun, first vice minister of the Ministry of Foreign Affairs, Bang Seong-taek, first vice minister of the Ministry of Trade, Industry and Energy, Jeong In-gyo, head of the trade negotiation bureau of the Ministry of Industry, and Wang Yun-jong, deputy director of the National Security Office.
Acting Minister Choi said, "We need to reassess the domestic impacts of the 25% tariff that went into effect on the 4th against Canada and Mexico, as well as the additional 10% tariff measures against China, and develop support measures for the domestic corporations operating in those countries."
He added, "Please actively utilize the 'Advanced Strategic Industry Fund' discussed in today's Ministerial Meeting for Strengthening Industrial Competitiveness to enhance technological competitiveness in response to the rapidly changing trade environment."