South Korea Acting President: "Time to Negotiate with US Government... Will Fully Explain to Cabinet Members"

"Fully Leveraging Relevant Networks Based on Trade Experience"

Handuksoo Acting President Yonhap News

Prime Minister Han Duck-soo, Acting President, stated on the 14th, "We have entered the time for full-scale negotiations with the U.S. government," adding, "Based on our past trade experience, I will fully utilize relevant networks and work with cabinet members to fulfill the final mission entrusted to me."

Acting President Han presided over a cabinet meeting at the Government Complex Seoul on the same day and said regarding trade negotiations between Korea and the U.S., "We must fully mobilize the government's and private sector's response capabilities and do our utmost to protect national interests."

He explained, "The trade war initiated by the U.S. is shaking the landscape," adding, "Despite the U.S.'s tough trade policies, it has shown flexibility regarding reciprocal tariffs and item-specific tariffs, putting each country's trade response capabilities to a serious test."

He continued, "It is fortunate that the U.S. has postponed the imposition of reciprocal tariffs on major trading partners, including Korea, for 90 days, but the crisis continues with item-specific tariffs and escalating U.S.-China tensions."

Acting President Han emphasized, "What we need now is a strong will to turn this crisis into an opportunity," and added, "The global trade war initiated by the U.S. can be a chance to improve the lives of our people and elevate the export competitiveness of Korea, a 'trade powerhouse,' to a higher level depending on how we respond."

Furthermore, he urged, "Ministers of each department, despite various difficulties such as concerns from stakeholders, please concretize strategic response plans to various non-tariff barriers and cooperation projects raised by the U.S., keeping only national interests and the people in mind."

He also requested, "Ministers should thoroughly explain and seek understanding from the National Assembly and the public regarding the government's efforts for stable governance, including livelihood, public safety, and trade responses," and added, "I ask that you respond transparently and explain the related response situations as they are to dispel various distrust and misunderstandings raised amid political uncertainties."

Acting President Han also urged the National Assembly to promptly process many bills essential for stabilizing livelihoods and economic advancement, which are currently pending.

He said, "I repeatedly request the National Assembly's magnanimous cooperation so that the amendment to the 'Large-scale Distribution Industry Act' to protect small merchants affected by delayed payment settlements revealed in the 'Timef incident,' as well as the enactment of the 'Semiconductor Special Act' and the 'Nuclear Industry Support Special Act' for Korea's future growth engines, can be promptly processed."

He added, "The 'essential supplementary budget bill' for disaster and accident response, trade and artificial intelligence (AI) competitiveness enhancement, and livelihood support will also be submitted to the National Assembly soon," and said, "I hope the supplementary budget bill will be discussed proactively and processed swiftly, thinking only of livelihoods and the national economy without any political considerations."