Andukgeun, Minister of Industry, "Export Conditions Difficult in First Half... Emergency Export Measures to be Prepared Next Month"

Minister An Visits Korea International Trade Association as First On-Site Activity After Launch of Trump's Second Term
Public-Private Joint Response System to Be Established for Changing Trade Environment
Government and Association to Cooperate Closely on Emergency Export Measures
Minister An: "We Will Minimize Trade Risks Through Close Cooperation With Major Governments"

The Ministry of Trade, Industry and Energy has decided to establish a public-private joint response system to address changes in the trade environment following the inauguration of the second term of the Donald Trump administration.

On the 21st, Minister An Deok-geun of the Ministry of Trade, Industry and Energy stated during a meeting with Yoon Jin-sik, Chairman of the Korea International Trade Association (KITA), held at KITA, "Exports are expected to face particular difficulties in the first half of this year due to worsening export conditions for key items such as semiconductors and automobiles, as well as base effects," adding, "The government is preparing an inter-ministerial emergency export plan targeting February."

Minister An requested the Trade Association to "play the role of a think tank in the trade and commerce sectors to prepare measures that can be felt on the ground," and proposed that the association fully mobilize its network to create a favorable environment for our export companies as one team with the government.

In response, Chairman Yoon said, "The association will actively cooperate with the government's emergency export measures under preparation to contribute to the development of practical alternatives," and added, "We will provide companies with information and strategic insights regarding policy changes of the U.S. government."

After the meeting, Minister An also attended the World Trade Forum held under the theme "The Path Forward for Korean Trade in an Era of Extreme Uncertainty." In his congratulatory remarks, he said, "The trade environment we face is challenging due to geopolitical risks, major countries' prioritization of their own interests, and supply chain restructuring," and stated, "The government will minimize trade risks through close cooperation with major governments."

He continued, "We will activate an inter-ministerial response system such as the Foreign Economic Issues Meeting to prepare response strategies for each situation and issue. Through a communication system with the U.S., including the Ambassador for International Finance and International Investment Cooperation, we are promoting comprehensive outreach," and added, "We will make every effort to support our companies so that they can conduct trade activities stably."