President Yoon, in the Trump Era, Urges "Listen to Corporate Voices and Form Strategies from a National Interest Perspective"

"Companies Are Most Sensitive to Trade Changes"
Measures to Strengthen Social Safety Nets and Address Polarization

President Yoon Suk-yeol is speaking at the 'Emergency Economic and Security Review Meeting in Response to Changes in External Conditions' held at the Presidential Office in Yongsan, Seoul, on the 10th. Photo by Yonhap News

"Since companies are most sensitive to changes in external trade, we must listen thoroughly to their stories and establish strategies from the perspective of national interest."

President Yoon Suk-yeol, upon the start of Trump's second term, instructed his presidential office staff to analyze economic and industrial risks and to formulate strategies by listening as much as possible to voices from the field. He urged avoiding 'armchair theorizing' policy responses among government officials and emphasized the need to directly hear from companies, who instinctively understand changes in the external environment best, to establish strategies from the national interest perspective.

President Yoon directly mentioned that "the effects vary by industry and sector depending on how we respond to the changed policies" in the Trump era, and when deciding strategies, he instructed not to assume 'this should work' in advance but to listen carefully to companies' stories. A presidential office official explained, "It means not trying to respond based on pre-analyzed data sitting at a desk, but listening to companies as much as possible to weigh the pros and cons."

Accordingly, the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, and others are conducting risk assessments and seeking specific response directions focusing on key industrial sectors such as batteries, semiconductors, automobiles, and shipbuilding, where major changes are anticipated in the Trump era.

In particular, President Yoon expressed caution about establishing government strategies based on pre-analyzed data and assuming situations when formulating policies. Although the Trade Negotiation Headquarters within the Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy have prepared arguments to respond to potential issues related to finance, trade, and industrial competitiveness, he instructed to listen specifically to voices from the corporate field rather than relying on existing analyses.

At the senior secretary meeting and the weekly meeting with Prime Minister Han Duck-soo the previous day, President Yoon, marking the midpoint of his term, presented 'resolving polarization' as a key policy keyword for the latter half of his term and urged comprehensive measures. At the senior secretary meeting the day before, President Yoon remarked that social conflicts and dissatisfaction due to polarization led to support for then President-elect Donald Trump in the U.S., implying that the Korean government should also take this into consideration. Accordingly, the government plans to announce support measures for small business owners and self-employed individuals next month, including managing grocery prices, and will prepare more comprehensive measures beyond this.

A senior presidential office official said, "We plan to focus on strengthening social safety nets, personal development through social capital, and improving the educational environment for the younger generation," adding, "We will soon release a policy package aimed at resolving polarization such as income and educational disparities in the latter half of the term."