Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
Trump's 'Board of Peace' cannot replace UN, says foreign minister
Foreign Minister Cho Hyun speaks during a forum hosted by the Kwanhun Club, an association of senior journalists, at the Korea Press Center in Seoul, Thursday. Yonhap
By Lee Hyo-jin
Concerns rise over potential additional tariff threat if Korea refuses to join US-led peace initiative
The “Board of Peace” initiated by U.S. President Donald Trump, supposedly aimed at addressing the Gaza conflict, cannot replace the United Nations, Foreign Minister Cho Hyun said on Thursday.
The top diplomat's remarks came as Korea weighs a decision on whether to accept an invitation to join the Washington-led international group, an offer the government confirmed it received last week.
“Even if the United Nations becomes paralyzed, it cannot be replaced (by the Board of Peace). The U.N. will continue to be as it is. When the time comes, it will carry out the role entrusted to it,” Cho said at a forum hosted by the Kwanhun Club, an association of senior journalists.
Cho said no decision had yet been made on whether Seoul would join the initiative, adding that the invitation had arrived “rather abruptly” and was now under review.
The top diplomat voiced support for Trump's broader peace objectives. “Even if we do not immediately sign on to join, we support the U.S.' efforts to promote international peace,” he said.
Trump officially launched the Board of Peace last week at the World Economic Forum in Davos, Switzerland, suggesting that its scope could eventually extend beyond the Gaza conflict. Invitations are believed to have been sent to around 60 countries, although several key U.S. allies in Europe have declined or expressed reluctance to participate, and Trump rescinded Canada's invitation.
Cho's cautious stance on the invitation appears to reflect concerns that turning it down could irritate the unpredictable U.S. president and cause potential ripple effects in bilateral relations at a sensitive moment in tariff negotiations.
On Monday, officials in Seoul were caught off guard after Trump said he would raise tariffs again on Korean products from 15 percent to 25 percent. He claimed that Korea's National Assembly had failed to complete the legal procedures necessary to implement the bilateral trade agreement.
U.S. President Donald Trump holds a signed founding charter at a meeting announcing the Board of Peace during the World Economic Forum annual meeting in Davos, Switzerland, Jan. 22 (local time). UPI-Yonhap
A day later, Trump told reporters his administration would “work something out with South Korea,” a remark widely interpreted as leaving the door open to negotiations.
Amid lingering trade tensions, concerns have risen here that declining to join the Board of Peace could become another flashpoint in bilateral relations.
Asked whether refusing to participate in the board could trigger fresh tariff pressure from Washington, Cho avoided a direct answer, only saying, “We will respond after taking a comprehensive look at international trends.”
The foreign minister also said Korea has grown accustomed to Trump's tendency to announce major foreign policy decisions through social media rather than official diplomatic channels.
“Still, I would say this came as somewhat of a surprise,” he said, referring to Trump's latest tariff hike statement. “This is something we need to respond to carefully.”
The minister added that the U.S. leader's sudden move should not be viewed as a breach of the tariff deal. “This process should be viewed not as renegotiation, but as follow-up consultations on the concrete implementation of the existing fact sheet,” he said.