New trade chief vows all-out efforts to manage Seoul-Washington trade risks
Korea's new chief trade negotiator has vowed to make an all-out effort to manage risks in the country's trade ties with Washington as the global order undergoes a major transition, the trade ministry said Monday. In his inaugural address, Trade Minister Park Jung-sung said tariffs, subsidies, industrial policies, supply chain alliances and export controls are emerging as key tools for shaping the…
The newly appointed chief trade negotiator for South Korea has pledged to make a full effort in managing risks associated with the nation's trade relations with the United States. This comes at a time when the global order is undergoing significant changes, according to the Korea Trade Ministry. In his opening remarks, Trade Minister Park Jung-sung highlighted tariffs, subsidies, industrial policies, supply chain alliances, and export controls as emerging tools that will shape the global trade landscape, as reported by the Ministry of Trade, Industry, and Resources.
Park's appointment follows the commencement of negotiations on their first investment project under South Korea's $350 billion investment pledge made last year, as part of a trade agreement with the United States.
Minister Park noted that the U.S.' tariff restructuring and efforts to localize strategic industries are creating a permanent feature of the global trade environment - strategic competition between the U.S. and China. He emphasized that implementing strategic investment projects between Seoul and Washington represents the biggest challenge and opportunity in bilateral relations.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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