Minister Kim Jeong-kwan of the Ministry of Trade, Industry and Energy noted that the economic and diplomatic leaders are collectively visiting the United States to engage in multilateral negotiations for the purpose of enhancing negotiation capacity.
During a press briefing held immediately after the inauguration ceremony at the Government Sejong Center on the 21st, Minister Kim responded to the criticism that 'multilateral negotiations could rather dilute negotiation power' by emphasizing that 'Deputy Prime Minister Ko Yoon-cheol, Yeo Han-koo, head of the Trade Negotiation Headquarters, and others clearly have their respective responsibilities,' stating, 'Rather than diluting negotiation power, it will actually be enhanced.'
According to the Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy, Deputy Prime Minister Ko Yoon-cheol, Minister Kim Jeong-kwan, Yeo Han-koo, head of the headquarters, and Minister of Foreign Affairs Park Jin are coordinating their schedules for a visit to the U.S. National Security Office Director Wi Sung-lak also departed for the U.S. the day before for a visit to Washington, D.C. As the deadline for U.S. tariffs on the 1st of August approaches in about ten days, the urgency of the new government cabinet is evident.
The Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy are coordinating with the U.S. side to hold '2+2 trade negotiations' with U.S. Secretary of the Treasury Scott Bessent and Secretary of Commerce Howard Lutnick during the visit to the U.S. However, it has not yet been confirmed which of Minister Kim Jeong-kwan or Deputy Minister Yeo Han-koo will participate as a counterpart for Secretary Lutnick.
Before the full-fledged negotiations, the government plans to hold a meeting of foreign economic ministers on the 22nd to pre-coordinate specific negotiation strategies and agendas. The Ministry of Trade, Industry and Energy has already completed the procedures for public hearings and reports to the National Assembly under the Trade Treaty Act.
Meanwhile, during the briefing on the same day, questions regarding the reorganization of the Ministry of Trade, Industry and Energy also continued. Minister Kim stated about the establishment of a Ministry of Climate and Energy that it is 'a presidential promise and that a policy momentum for responding to climate change is also necessary,' adding, 'We are discussing ways to link energy, trade, and industrial policies, including the possibility of reorganization, in collaboration with the Presidential Committee on Policy Planning.'
Minister Jeon Jae-soo of the Ministry of Oceans and Fisheries drew the line on the assertion regarding the transfer of the Shipbuilding and Marine Plant Division. Minister Kim said, 'Japan also merged the shipbuilding and shipping industries but failed to achieve industrial synergies and lost competitiveness,' emphasizing that 'we should approach this matter carefully as a cautionary tale.'