Yeo Han-koo, the Deputy Minister of Trade, Industry and Energy, said on the 7th, "I will reorganize our trade strategy."
The Deputy Minister noted at the Trade Policy Advisory Committee meeting held at the Lotte Hotel in Seoul that afternoon, "We have overcome a major hurdle with the conclusion of U.S.-Korea tariff negotiations last week, but we are still in a situation where we cannot be at ease."
On the 31st of last month, the Ministry of Trade, Industry and Energy convened the Trade Policy Advisory Committee, a pool of experts from academia and industry, to discuss the impact and countermeasures of the concluded tariff negotiations with the United States on the domestic industry and to hear expert opinions.
The Deputy Minister said, "The global trade environment is becoming the 'new normal' of expanding a self-centered approach using markets and technology as weapons," adding, "To prepare for this, I will reorganize our trade strategy."
He also stated, "We will implement follow-up support measures for vulnerable sectors without fail and establish long-term measures to diversify trade networks and strengthen industrial competitiveness."
The commissioners attending the meeting demanded that in the follow-up negotiation process, they work diligently under the principle of 'national interest first' and continue to communicate with domestic stakeholders.
The Ministry plans to strengthen communication using the Trade Policy Advisory Committee and continue with follow-up measures.