Newly inaugurated South Korean Trade Minister Park Jung-sung, seen here in a May 2025 photo, said Monday he would make an all-out effort to manage trade risks with Washington. File Photo by Yonhap
South 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 global trade order, according to the Ministry of Trade, Industry and Resources.
His appointment comes as the two countries negotiate their first investment project under South Korea's US$350 billion investment commitment made last year as part of a trade deal with the United States.
"The tariff restructuring initiated by the U.S. and its push to localize strategic industries are making strategic competition between the U.S. and China a permanent feature of the global trade landscape," Park said.
