Former Trade Chiefs: "Trump's Second Term Likely to Pursue Strong Trade Policies... Need to Maintain Agile Response Posture"

Jung In-kyo, Director-General for Trade Negotiations, Holds Meeting with Former Directors-General for Trade Negotiations

Former Chief Negotiators for Trade unanimously agreed that since the second Trump administration is likely to pursue stronger and faster trade policies than before, it is essential to meticulously prepare response strategies and maintain a swift readiness to respond.

The Ministry of Trade, Industry and Energy announced that Jung In-kyo, Chief Negotiator for Trade, held a 'Meeting of Former Chief Negotiators for Trade' on the 28th at the JW Marriott Hotel in Seoul to review the global trade environment following the inauguration of the new U.S. administration and discuss South Korea's response strategies. Former Chief Negotiators Park Tae-ho, Kim Jong-hoon, and Yoo Myung-hee attended the meeting.

Jung In-kyo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy (second from right), is presiding over the "Former Directors General for Trade Negotiations Meeting" held on the 28th at the JW Marriott Hotel in Banpo-dong, Seoul. The meeting was attended by Park Tae-ho (first from left), Kim Jong-hoon (first from right), and former Director General for Trade Negotiations Yoo Myung-hee. Amid the accelerating preparations for the inauguration of the new U.S. administration, including the announcement of cabinet appointments, they listened to the experiences of former directors general in responding to the U.S. administration and sought advice on Korea's response strategy. A commemorative photo was taken with the attendees.

The meeting was organized to hear the experiences of former chief negotiators in dealing with the U.S. administration amid the accelerating preparations for the new U.S. administration, including cabinet appointments, and to seek advice on South Korea's response strategies.

Chief Negotiator Jung stated, "We are closely communicating with companies regarding the inauguration of the new U.S. administration, carefully analyzing various concerns and opportunities, and preparing response plans for different scenarios. We will strive to ensure that the Korea-U.S. trade cooperation relationship is managed stably going forward." He added, "The experiences and insights of former chief negotiators will be an important foundation for addressing new challenges," requesting their advice.

In response, the attendees advised that since the new U.S. administration is likely to implement trade policies more strongly and rapidly than in the past, based on control of Congress, it is necessary to prepare response strategies meticulously as a public-private one team and maintain a prompt readiness to respond. They also urged continuous promotional activities targeting both ruling and opposition parties in the U.S. during the transitional period before the new administration's inauguration to emphasize the importance of Korea-U.S. trade cooperation.

Going forward, the Ministry of Trade, Industry and Energy plans to closely monitor the trade policy trends of the new U.S. administration and respond in a way that maximizes opportunities and minimizes uncertainties through public-private cooperation.