Choi Acting President: "Preparing Joseon and Energy in a Direction Beneficial to Korea-US Interests"

Foreign Economic Issues Meeting Held
"Prompt Review of Issues Related to Reciprocal Tariffs and Non-Tariff Measures"

Yonhap News

Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, said on the 10th, "Regarding issues of high interest to the U.S., such as the shipbuilding industry and energy sector, let us prepare and consult in a way that benefits both Korea and the U.S."

Acting President Choi made these remarks at the Foreign Economic Issues Meeting held at the Government Seoul Office. The meeting, chaired by Acting President Choi, was attended by the Minister of Foreign Affairs, Minister of Trade, Industry and Energy, Director of the Office for Government Policy Coordination, Director of the Presidential Secretariat’s Policy Office, Director of the National Security Office, and the First Vice Minister of the Ministry of Trade, Industry and Energy.

While reviewing the progress of major ongoing consultations with the U.S., Acting President Choi urged, "Please actively explain parts where there are misunderstandings on the U.S. side, such as our tariff rates against the U.S."

Earlier, U.S. President Donald Trump, in his joint session speech to the U.S. Congress on the 4th (local time), directly criticized, saying, "Korea’s average tariff is four times higher than (that of) the U.S.," and added, "We provide Korea with a lot of help militarily and in many other ways, but this is happening." In response, the Korean government conveyed to the U.S. side that tariffs between the two countries are virtually close to 0% due to the Free Trade Agreement (FTA).

Acting President Choi also requested, "Regarding the U.S. side’s decision on imposing reciprocal tariffs and related non-tariff measures, the relevant ministries should promptly review the issues under their jurisdiction."