Trump 2nd Term Response 'Activation of Foreign Relations Minister Meeting System'... "Cooperation in Contact with the US"

First Meeting After the Passage of President Yoon Seok-yeol's Impeachment Bill

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is presiding over the Foreign Economic Ministers' Meeting on the afternoon of the 15th at the Government Seoul Office in Jongno-gu, Seoul. From the left, Jeong In-gyo, Director General for Trade Negotiations, Cho Tae-yeol, Minister of Foreign Affairs, Deputy Prime Minister Choi Sang-mok, Ahn Deok-geun, Minister of Industry and Trade, and Nam Hyung-gi, Second Deputy Director of the Office for Government Policy Coordination.

The government will jointly engage in outreach to the United States with various economic ministries and overseas diplomatic missions in the U.S. regions to respond to various protectionist measures such as tariff increases and semiconductor export regulations following the inauguration of the second Trump administration.

On the 15th, Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, held an "External Relations Ministers' Meeting" at the Government Seoul Office together with Cho Tae-yeol, Minister of Foreign Affairs, Ahn Duk-geun, Minister of Trade, Industry and Energy, and Jung In-kyo, Chief Negotiator for Trade.

The External Relations Ministers' Meeting is a forum to discuss response measures to changes in trade policies over the next four years following the inauguration of the second Trump administration next month. Earlier, at an emergency economic ministers' meeting on the same day, Deputy Prime Minister Choi announced plans to regularize the External Relations Ministers' Meeting to respond to trade issues.

Deputy Prime Minister Choi emphasized, "Although there are concerns about our economy following the approval of the presidential impeachment motion yesterday, the Korean economy has the capability and capacity to overcome uncertainties," adding, "Through the External Relations Ministers' Meeting, we will respond with responsibility and unwavering commitment to potential changes in the external trade environment."

To this end, he stated, "The Ministry of Foreign Affairs, economic ministries, and overseas diplomatic missions in the U.S. regions will establish a close cooperative system to conduct outreach to the U.S., while also maintaining close communication with the private sector to respond accordingly."

In particular, "The government plans to regularize the External Relations Ministers' Meeting to review economic cooperation, trade issues, and supply chain stability, respond immediately, and establish a comprehensive response strategy prioritizing national interests to address uncertainties in the external economy."

Meeting participants emphasized, "Given the very serious domestic situation, we will ensure that there is no gap in our external economic diplomacy, including preparations for the inauguration of the second Trump administration," and "We will fully support so that domestic and international uncertainties do not affect our companies' exports and investments."

They added, "Going forward, the government will swiftly respond under close coordination and cooperation among related ministries to prevent rapidly changing domestic and international conditions from negatively impacting our external credibility and economy. Furthermore, the government and industry will actively communicate to devise effective and practical response measures and continue efforts to enhance the international competitiveness of our companies."

Following the External Relations Ministers' Meeting, Deputy Prime Minister Choi plans to hold a confidential macroeconomic and financial issues meeting ('F4' meeting) to review the financial market situation.