Yeo Han-koo Emphasizes Korea-U.S. Trade Talks Should Be an Opportunity to Strengthen Industrial Competitiveness

Presiding Over the First Trade Promotion Committee Meeting Since Taking Office

On June 17, Yeo Han-koo, Trade Minister at the Ministry of Trade, Industry and Energy, emphasized, "We must use the Korea-U.S. trade negotiations as an opportunity to advance our systems and rationalize regulations to strengthen industrial competitiveness."

At the 46th Trade Promotion Committee meeting held at the Korea Trade Insurance Corporation in Seoul on the same day, Yeo stated, "With the launch of the new administration, we need to advance negotiations quickly," reiterating his point.

This meeting marked Yeo's first official event since taking office and was convened to review the government's response and discuss strategies by ministry ahead of high-level and technical consultations with the United States.

Yeo noted, "Globally, tariff negotiations with the United States are proceeding rapidly, but our progress has been slower than other major countries due to various uncertainties." He then called on all ministries to "actively identify Korea-U.S. cooperation packages and respond to the negotiations with a strong sense of responsibility."

The meeting was attended by director- and bureau-level officials from 16 ministries, including the Ministry of Economy and Finance, Ministry of Foreign Affairs, Ministry of National Defense, and Ministry of Environment. The Ministry of Trade, Industry and Energy reported on "Trends in Korea-U.S. Tariff Consultations and Response Measures," while related ministries discussed response strategies for each negotiation issue.

This meeting is noteworthy as it was not just a routine review, but a high-level coordination platform convened ahead of the anticipated acceleration of the "July Package" negotiations between Korea and the United States. In particular, as the U.S. side explicitly mentioned strategic items such as steel, pharmaceuticals, and semiconductors during the last technical consultation, there is analysis that future negotiations are likely to develop into structural talks, not only involving tariff adjustments but also institutional improvements and guarantees of market access.

The government plans to convene the Trade Promotion Committee as needed if negotiations become full-fledged and to establish a practical joint response system. The Ministry of Trade, Industry and Energy stated, "We will mobilize all national capabilities to ensure the Korea-U.S. trade negotiations are concluded smoothly."