Finance Minister Koo Yun-cheol said Monday that South Korea will use its economic cooperation networks from summit diplomacy to manage global trade uncertainties including Middle East tensions.
Finance Minister Koo Yun-cheol made the remarks at a meeting with relevant ministries at the Sejong Government Complex on Monday. "To address external uncertainties, Korea will proactively utilize the foundation for economic cooperation built through summit diplomacy," Koo said. "Relevant ministries will promptly implement the MOUs signed during the summits."
The government vowed to maintain coordination with Washington after the Office of the U.S. Trade Representative proposed a 12.5 percent tariff on Korea over alleged failure to enforce import bans on products made with forced labor. "We plan to continue talks with the U.S. to stably manage our trade relationship," the Finance Ministry said.
Participants also discussed ongoing negotiations with Bangladesh on a Comprehensive Economic Partnership Agreement and official development assistance projects in the artificial intelligence sector under the vision of a "Global AI Basic Society."
