"Support Measures Needed for Korean Companies Operating Overseas"
Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, ordered on the 5th to "hold intensive consultations within this month through a Korea-US working-level consultative body in response to the reciprocal tariff measures scheduled for the 2nd of next month."
Acting President Choi said at the Foreign Economic Issues Briefing held at the Government Seoul Office in Jongno-gu, Seoul, "Please base this on the additional interests of the US side identified through a video meeting with the US Treasury Secretary and meetings between the Minister of Trade, Industry and Energy and the US Secretary of Commerce and the United States Trade Representative (USTR), as well as the consensus between the two countries."
Attending this briefing were Bang Gi-seon, Director of the Office for Government Policy Coordination; Sung Tae-yoon, Director of the Policy Office of the Presidential Secretariat; Kim Hong-gyun, First Vice Minister of Foreign Affairs; Bang Seong-taek, First Vice Minister of Trade, Industry and Energy; Jeong In-gyo, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy; and Wang Yoon-jong, Third Deputy Director of the National Security Office.
At the meeting, Acting President Choi demanded, "We need to reassess the domestic impact of the US tariff measures of 25% on Canada and Mexico and an additional 10% on China, which took effect on the 4th," and "We must devise support measures for our companies operating in those countries."
He also urged, "Please actively utilize the Advanced Strategic Industry Fund discussed at today's Ministerial Meeting on Strengthening Industrial Competitiveness to prepare for the rapidly changing trade environment and strengthen technological competitiveness."
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