Park Jeong-seong, the eighth chief trade negotiator of the Ministry of Trade, Industry and Energy, speaks at his inauguration ceremony at Government Complex Sejong on Monday. [Ministry of Trade, Industry and Energy]
Park Jeong-seong, the eighth chief trade negotiator of the Ministry of Trade, Industry and Energy, speaks at his inauguration ceremony at Government Complex Sejong on Monday. [Ministry of Trade, Industry and Energy]

The Ministry of Trade, Industry and Energy said Trade Minister Park Jeong-seong chaired the 59th Trade Promotion Committee meeting at Government Complex Sejong on Wednesday, with representatives from related ministries in attendance.

The meeting — the first since Park took office — covered three main topics: pending trade issues with the United States and plans for addressing them, plans to pursue bilateral agreements with Argentina and Uruguay, and the status of discussions on G20 trade agenda items along with response strategies.

The government reviewed recent trade issues with the United States and took a comprehensive look at how to handle key matters including tariffs, non-tariff barriers and investment in the US market.

The ministries agreed to pool pan-government resources to respond swiftly to changing circumstances through close information-sharing and coordination, and to support stable exports and investment by South Korean companies.

The committee then discussed plans to pursue bilateral agreements with Argentina and Uruguay, exploring ways to expand the foundation for trade cooperation with major South American countries — a largely untapped frontier for South Korea's trade network.

Ahead of the G20 trade ministers' meeting, scheduled for Sept. 30 to Oct. 1, participants shared updates on key agenda discussions and reviewed South Korea's positions.

"In an environment of heightened uncertainty in trade, it is above all important that we respond to US trade issues without wavering," Park said. "At the same time, we must diversify our trade network into new markets such as South America and actively reflect our positions on multilateral stages including the G20."

He urged related ministries to "share a close understanding of the situation, pool each ministry's capabilities and respond with full force as one team."


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