Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy said on the 6th, "We will continue to discuss with U.S. corporations to ensure they do not face discrimination or disadvantages regarding the Online Platform Act and other non-tariff measures."
On the same day, Minister Kim attended the full committee meeting of the Trade. Industry Energy. SMEs. and Startups Committee in the National Assembly and noted, "We promised to strengthen cooperation on hygiene related to imports of American fruits and vegetables and to accept safety standards for American cars."
The Online Platform Act is one of President Lee Jae-myung's core election promises, aimed at preventing the abuse of market dominance by large online businesses through measures such as commission limits, prohibiting unfair practices, and enhancing contract transparency. The United States has pointed out that the introduction of the Online Platform Act, driven by the government, constitutes a "digital trade barrier."
Minister Kim reiterated that there would be "no additional opening for rice and beef" in relation to the differences in positions between the U.S. and Korea regarding the opening of the agricultural and livestock products market after the negotiation agreement. However, he hinted at the practical possibility of easing non-tariff barriers related to fruits and vegetables, such as apples.
He said, "To be precise regarding agricultural products, rice, beef, and fruits are not included," and added, "The quarantine procedures have not been omitted or simplified. I hope there are no misunderstandings regarding this."
Minister Kim stated, "From the U.S. perspective, they think that the quarantine process takes too long and is complicated. I mention that we will strengthen cooperation by establishing a dedicated desk for the U.S."
Regarding the decision to provide a $350 billion investment package, including the $150 billion 'MASGA Project,' he stated, "The U.S. financial package is expected to offer new business opportunities for our corporations and contribute to economic cooperation between the two countries and securing stable supply chains, depending on the results of follow-up discussions with the U.S."
He added, "The shipbuilding cooperation fund will be proactively utilized by our shipbuilding industry," and noted, "The U.S. side is rather more active regarding issues such as the construction of warships, so cooperation with the U.S. is becoming very close."
Regarding the $200 billion investment, to be determined under the leadership of the U.S. government, he said, "We plan to proactively prepare and present specific cooperation strategies that the U.S. would be interested in, based on our manufacturing capabilities."