KITA Holds Special Forum with Heritage Foundation on "The Future of Korea-US Relations"

A Leading US Policy Think Tank
"Korea-US Alliance Evolving Toward Mutually Beneficial Cooperation"

The Korea International Trade Association held a special forum on the theme of "Economic and Trade Strategies of the Second Trump Administration and the Future of Korea-US Relations" together with the Heritage Foundation, a leading conservative think tank in the United States, at Trade Tower in Samseong-dong, Gangnam-gu, Seoul, on August 28.

Key participants are taking a commemorative photo at the "Future of Korea-US Relations" special forum held on the 28th at Trade Tower in Samseong-dong, Gangnam-gu, hosted by the Korea International Trade Association and the Heritage Foundation. Photo by Korea International Trade Association

The Heritage Foundation is a prominent US policy think tank established in 1973. Since its founding, it has been actively conducting policy research and making recommendations across various fields such as diplomacy, economy, and society, based on the principles of corporate freedom, individual liberty, small government, traditional American values, and strengthening national defense.

This forum, held immediately after the Korea-US summit, drew significant attention, with more than 200 executives and employees from companies engaged in trade and investment with the United States in attendance. The event featured in-depth discussions on the economic and trade policy direction of the second Trump administration and its potential impact on the Korean economy and key industries.

In his opening remarks, Kim Kihyun, Head of the International Cooperation Division at the Korea International Trade Association, stated, "Although the recent Korea-US tariff negotiations have been concluded and the summit ended successfully, companies are still facing challenges in responding at the corporate level. I hope this forum will help Korean businesses anticipate future policy changes under the Trump administration and proactively respond to the uncertain external environment."

In the subsequent keynote speech, Derrick Morgan, Vice President of the Heritage Foundation, presented on the future policy direction of President Trump and the outlook for changes in the Korea-US alliance following the summit. He emphasized, "The Korea-US alliance has proven itself over many years, evolving from a simple military alliance into an economic, industrial, and values-based partnership by overcoming decades of challenges and crises. In a rapidly changing geopolitical environment, both countries must strengthen strategic clarity and solidify the alliance by expanding mutually beneficial industrial cooperation."

This was followed by an expert panel discussion on the topic of "Changes in Korea-US Trade and Industrial Cooperation under the Second Trump Administration." Lee Hyemin, Visiting Professor at Hankuk University of Foreign Studies and moderator of the session, stressed, "For the bilateral relationship to develop in a future-oriented manner following the summit, the agreements reached in the tariff negotiations must be implemented smoothly, and in particular, tariff reductions on automobiles and auto parts should be executed as soon as possible."

Anthony Kim, Senior Research Fellow at the Heritage Foundation and a panelist, suggested, "With its advanced manufacturing capabilities in semiconductors, shipbuilding, and defense, Korea can serve as a key economic and security partner for the United States, acting as a universal solution in various sectors. Korea and the United States should move beyond a traditional export-import relationship and develop into joint investors and co-developers."

Heo Junyoung, Professor at Sogang University, assessed, "Tariffs on steel, aluminum, and semiconductors are not merely aimed at creating manufacturing jobs in the United States, but are policies intended to shift the industrial ecosystem to be centered around the US." He advised Korean companies to respond meticulously to these changes.

Meanwhile, on August 27, the Korea International Trade Association, chaired by President Yoon Jinshik, held a luncheon meeting at the Grand InterContinental Seoul Parnas Hotel with Derrick Morgan, Vice President of the Heritage Foundation, and Korean business leaders. During the event, business representatives directly heard the Heritage Foundation's outlook on President Trump's future economic policies and discussed strategies and responses for each industry sector.