Han Deok-su, Lee Jae-yong, and Choi Tae-won All Gathered... 'Economic Security Strategy TF' Launched

First Meeting of Economic Security Strategy TF Chaired by Acting President Han
High-Level Participation from Politics and Business... Response to U.S. Tariffs
Han Duck-soo: "Comprehensive Outreach to All Sectors in the U.S."

A public-private joint Economic Security Strategy Task Force (TF) to respond to trade issues such as the imposition of tariffs by the United States was launched on the 1st. Acting President and Prime Minister Han Duck-soo personally presided over the meeting, which included the heads of Korea's four major conglomerates (Samsung, SK, Hyundai Motor, LG), the Minister of Economy and Finance, and the Chief of Policy Office of the Presidential Secretariat.

Amid growing uncertainty in the trade environment triggered by the U.S., high-level officials from politics and business gathered to actively respond as a "one team."

Acting President and Prime Minister Han Duck-soo is taking a commemorative photo on the 1st at the Prime Minister's Official Residence in Samcheong-dong, Jongno-gu, Seoul, before the Economic Security Strategy TF meeting. From the left, Minister of Foreign Affairs Cho Tae-yeol, Deputy Prime Minister Choi Sang-mok, Hyundai Motor Chairman Chung Eui-sun, Samsung Electronics Chairman Lee Jae-yong, Prime Minister Han, SK Chairman Chey Tae-won, LG Chairman Koo Kwang-mo, Minister of Trade, Industry and Energy Ahn Deok-geun, Director of National Security Office Shin Won-sik, and Presidential Secretary for Policy Seong Tae-yoon. Photo by Yonhap News.

On the morning of the same day, Acting President Han presided over the first meeting of the Economic Security Strategy TF at the Prime Minister's official residence in Jongno-gu, Seoul, discussing countermeasures against the U.S.'s reciprocal tariffs.

The TF included high-ranking government officials such as Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance; Cho Tae-yeol, Minister of Foreign Affairs; Ahn Duk-geun, Minister of Trade, Industry and Energy; Sung Tae-yoon, Chief of Policy Office of the Presidential Secretariat; Shin Won-sik, Director of the National Security Office; and Jung In-kyo, Chief Negotiator for Trade. Corporate leaders such as Lee Jae-yong, Chairman of Samsung Electronics; Chey Tae-won, Chairman of SK; Chung Eui-sun, Chairman of Hyundai Motor; and Koo Kwang-mo, Chairman of LG also attended.

Acting President Han said, "Both the government and companies have done their best so far, but now is the time to truly join hands and run with one heart," adding, "We will do our utmost to make even slight improvements in each field represented by the (company) chairmen."

He explained, "Once the (U.S.) reciprocal tariffs are officially announced, negotiations and policies to mitigate the impact must be actively pursued," and "we are starting the Economic Security Strategy Task Force today with those who play the most central roles in the government and companies."

He continued, "Through this public-private cooperation system, this will once again be an opportunity for us to overcome these challenges as one team," and "we will first deliver comprehensive outreach to various sectors in the U.S."

He also said, "We will do our best to protect the competitiveness of our key industries," and "we will urgently prepare government support in various industries, including the automobile industry, which is likely to face difficulties due to this measure."

Acting President Han explained, "We will modernize our country's system to align with global standards to enhance the overall national competitiveness and fully utilize it as a tool to mitigate challenges coming from abroad."

He added, "we hope companies will demonstrate a bold spirit of challenge and innovation, and through their extensive networks, strive to further strengthen alliances between major countries and the Republic of Korea," and "the government will also boldly remove obstacles that hinder corporate investment and innovation."