Choi Dae-haeng Urges Private Economic Delegation Ahead of US Visit to "Discover Cooperation Opportunities"

“Diplomatic and Trade Super Week”
All-Out Efforts for International Outreach Activities

Acting President and Deputy Prime Minister Choi Sang-mok, who is also the Minister of Economy and Finance, is delivering opening remarks at the "Private Sector Economic Delegation Dinner Meeting" held on the evening of the 16th at the Government Seoul Office in Jongno-gu, Seoul, attended by 22 people including vice ministers from related ministries and corporate representatives.

Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, held a dinner meeting on the 16th at the Government Seoul Office with a private economic delegation preparing to depart for the United States, urging them to "seek opportunities to cooperate with the new U.S. administration."

At the meeting, 16 corporate representatives attended, including Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and Chairman of SK Group; Cho Hyun-sang, Vice Chairman of HS Hyosung; Kim Won-kyung, President of Samsung Electronics; Lee Hyung-hee, Chairman of SK Communications; Kim Dong-wook, Vice President of Hyundai Motor; and Yoon Chang-ryeol, Director of LG Global Strategy Development. From the government side, Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy, Deputy Minister Kang In-seon of the Ministry of Foreign Affairs, First Vice Minister Park Seong-taek of the Ministry of Trade, Industry and Energy, and Chief Negotiator Jeong In-gyo were present.

Acting President Choi explained that since the inauguration of the new U.S. administration, trade-related policies such as additional tariffs on steel and aluminum and plans for reciprocal tariffs have been announced consecutively, emphasizing that "the public and private sectors must work as one team to respond wisely and flexibly to changes in the trade environment." He added, "There is always opportunity hidden within change," and requested, "Through this visit, please fully explain the achievements of past investments in the U.S. and seek opportunities to cooperate with the new U.S. administration."

The economic delegation led by Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, consists of CEOs from Korea’s top 20 conglomerates. They will visit Washington, D.C. on the 19th and 20th to meet with senior White House officials and key members of Congress to discuss trade policies including tariffs, and to introduce strategic cooperation agendas and plans for investment cooperation between the two countries.

The government has designated this week as a "Diplomatic and Trade Super Week," during which the public and private sectors will intensify diplomatic and trade outreach activities. Acting President Choi will meet with Lucas Blec, Minister of Industry and Trade of the Czech Republic, and Seah Kian Peng, Speaker of the Singapore Parliament, who are visiting Korea this week, to explain the domestic situation and discuss ways to expand economic cooperation with each country.

Minister Ahn Deok-geun and Chief Negotiator Jeong In-gyo plan to visit the U.S. soon to discuss industrial and trade cooperation measures with Howard Lutnick, nominee for Secretary of Commerce, and Jayme Greer, nominee for U.S. Trade Representative (USTR). Ambassador Choi Joong-kyung for International Investment Cooperation and representatives from the battery industry will jointly visit investment sites of Korean companies in the U.S. and engage in communication related to the Inflation Reduction Act (IRA).

The Ministry of Strategy and Finance stated, "Through joint public-private 'relay outreach,' we will expand contact points with the new U.S. administration and protect the interests of our companies, workers, and consumers." It added, "Based on on-site feedback, we will hold an export strategy meeting this week to prepare cross-ministerial export measures including expanding trade finance, responding to changes in trade policies, diversifying export items and regions, and promoting exports of agricultural and marine products. To enhance domestic advanced industry competitiveness, we will convene the 'National Artificial Intelligence (AI) Committee' to discuss various measures to strengthen national AI competitiveness."