Andeok Geun: "Strengthening Industrial and Trade Cooperation Through High-Level Channels Even After the US Presidential Election"

Ministry of Trade, Industry and Energy, Global Trade Strategy Meeting

Anduk Geun, Minister of Trade, Industry and Energy, stated on the 31st, "The government will focus its policy capabilities on strengthening industrial and trade cooperation with the U.S. through various high-level channels even after the U.S. presidential election, based on the solid Korea-U.S. alliance, and prioritizing support for the smooth business activities of our companies."

On the same day, Minister Ahn presided over the 3rd Global Trade Strategy Meeting held at Lotte Hotel Seoul, attended by major industries and economic organizations, experts from sectors such as semiconductors, automobiles, batteries, and steel.

Anduk Geun, Minister of Industry and Energy. (File photo)

The meeting was held at a time when the U.S. presidential election was imminent to review related trends with major export and investment companies to the U.S. and discuss public-private joint response measures. At this meeting, expert analyses on the expected economic and political impacts depending on the U.S. presidential election results were shared, and in-depth discussions were held on the government's outreach progress to the U.S., future response plans, and the industry's current responses.

The industry requested that the government establish a stable cooperative relationship with the U.S. government even after the U.S. presidential election to alleviate uncertainties in exports and investments to the U.S., and actively represent the industry's position. They also shared that various activities are being carried out at the private level through multiple channels to reduce trade risks with the U.S.

Minister Ahn said, "We will continue to promptly share relevant information with the industry and respond quickly and proactively to various global trade risks as a public-private joint team," adding, "The Ministry of Trade, Industry and Energy plans to hold additional Global Trade Strategy Meetings after the U.S. presidential election to jointly discuss response measures for major trade issues according to the election results with the public and private sectors."

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