Choi "Alaska LNG Can Be a Tariff Negotiation Card... No Review of US Defense Cost-Sharing Talks"

Choi Sang-mok Attends Government Questioning on the 15th
"We Do Not Profit by Infringing on Health Rights Through Overtime"
On Ministry Separation Debate: "Reflecting on Trust"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, stated on the 15th that participation in the United States Alaska liquefied natural gas (LNG) development could become a card in future tariff negotiations. He also expressed that there are no plans to review the defense cost-sharing negotiations with the United States and the US Forces Korea.

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is responding to a lawmaker's question during the economic sector interpellation at the plenary session of the National Assembly on the 15th.

Deputy Prime Minister Choi attended the National Assembly's government questioning session that day, and when Kim Jeong-ho, a member of the Democratic Party of Korea, asked whether the Alaska LNG project could serve as a "lever for tariff negotiations with the US," he replied, "It is possible." When Kim Seung-won, another Democratic Party member, asked about the defense cost-sharing negotiations, he said, "We are not reviewing it at the moment."

Regarding the Alaska LNG project, Deputy Prime Minister Choi said, "The US side's plans and hopes are not yet concrete," adding, "Currently, we are at the stage of discussing with US officials the framework under which we will negotiate the areas of interest related to LNG, shipbuilding, and trade balance." He further explained, "Since the LNG part came up in talks between the two heads of state anyway, it cannot be ignored in the review," and emphasized, "It is not yet the stage to rashly promise anything or make decisions that violate national interests."

In response to criticism that global energy companies have withdrawn from the project due to lack of economic feasibility, he explained, "The concerns raised will be thoroughly reviewed," and "Only national interests will be the criterion for judgment." Earlier, US President Donald Trump had stated on the 8th, after a phone call with Acting President and Prime Minister Han Duck-soo, that they discussed "trade surplus with the US, tariffs, shipbuilding, large-scale purchases of US LNG, the Alaska gas pipeline joint project, and the payment of large-scale military protection costs provided to Korea."

Regarding defense cost-sharing, Deputy Prime Minister Choi emphasized in response to Kim Seung-won's question, "How much have we conceded?" that "There has been absolutely no concession." He said, "I know the content of that (phone call), and I think it can be understood as the expression style of the Trump administration and President Trump." He also remarked, "What would be conceded in a 30-minute call between heads of state?" In response to Park Seong-hoon, a member of the People Power Party, who asked, "President Trump mentioned a 'package deal' linking trade and security; does it include defense costs?" he replied, "Defense costs are not included in the (tariff negotiation) agenda currently being prepared."

Deputy Prime Minister Choi also responded to a remark by Seo Beom-su, a People Power Party member, that former Democratic Party leader Lee Jae-myung changed his stance on the exemption of semiconductor companies from the 52-hour workweek. Choi said, "Since this is related to elections, it is difficult to comment on a specific candidate," but added, "The intention is clearly not to earn money and grow by infringing on workers' health rights due to overtime work." He explained, "Semiconductors are a strategic national asset, and since countries are competing in this field, regarding research and development (R&D) personnel and such, various measures concerning workers' health rights and choices are being considered to allow exceptions."

In response to Seo's question, "Why do you think the Democratic Party is calling for the dismantling of the Ministry of Strategy and Finance?" Choi said, "I am not in a position to comment on that," but added, "It is an issue that makes us reflect on whether the Ministry of Strategy and Finance is trusted." Regarding the financial authorities' stance on the Democratic Party's proposal to provide 250,000 won in local currency to all citizens to stimulate domestic demand, he explained, "There are many doubts about the economic effects of uniform, temporary cash payments."