Scheduled Meeting with U.S. Secretary of Commerce
Minister of Trade, Industry and Energy Anduk Geun has embarked on a trip to the United States to discuss measures to protect Korean companies in relation to U.S. tariff actions.
Before departing from Incheon Airport on the morning of the 26th, Minister Ahn told reporters, "We plan to discuss ways to protect our companies as much as possible from the U.S. tariff measures," adding, "We are reviewing various positions by industry and preparing countermeasures through multiple channels."
Minister Ahn stated, "There are aspects where negotiations must be conducted within a broad framework between governments to set the direction," and added, "We will initiate consultations through this visit to the U.S. and continue ongoing discussions."
He emphasized, "This is not an issue that can be resolved through a single negotiation. The most important thing is to create a platform for continuous consultations by establishing a consultative body between the two countries," and said, "We will continuously build a foundation to resolve the issues faced by our companies."
Regarding U.S. Secretary of Commerce Howard Lutnick's mention of expedited procedures for investments over $1 billion and additional benefits for investments exceeding $10 billion, Minister Ahn evaluated, "The ‘America First’ investment policy announced by the White House includes regulatory preferential provisions," and added, "Considering the investments our companies have made so far and their future investment plans, there is a possibility they meet these criteria."
He also stated, "To strengthen industrial cooperation with the U.S., we plan to propose and discuss various measures to ensure that Korean companies do not suffer disadvantages within the U.S. economic ecosystem."
In response to questions about strengthening cooperation in shipbuilding, energy, and advanced industries, he said, "Strategic industrial cooperation between Korea and the U.S. is very important at this time," and added, "We plan to strongly emphasize cooperation in these fields and the need for the industrial ecosystems of both countries to operate together."
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