Foreign ministry scaled down
By Kim Young-jin
The Ministry of Foreign Affairs and Trade (MOFAT) could be getting a shorter name ― and a major adjustment of its duties.
In a move that took Korean diplomats by surprise, the transition team of President-elect Park Geun-hye announced Tuesday its plan to transfer responsibility of trade to another ministry. If approved by the National Assembly, MOFAT will become simply the Ministry of Foreign Affairs.
Under the plan, part of Park’s proposed shakeup of the government structure, trade will be handled by what is now the Ministry of Knowledge Economy. That ministry will be expanded to handle industry, trade and energy.
“Trade experts on the transition team made the decision as it will help the national interest,” said Yoo Min-bong, in charge of planning and coordination of state affairs on Park’s team. “I expect the area of trade to be handled in a more professional manner under an industry ministry.”
Analysts said the move appeared to be in line with an economy-first approach by Park, who campaigned on improving the economy and social welfare. Under the system, the finance minister would be elevated to deputy prime minister.
“We had no clue that this would happen before the announcement,” a MOFAT official said, requesting anonymity. “We will need some time before we have an official statement, or any comment on our planning for the change.”
“It is the President-elect’s decision,” the official added. “But we were surprised. We don’t have an official reaction yet, but you can speculate.”
Trade has been handled by MOFAT for 15 years, and analysts said trade negotiations had been a cornerstone of diplomacy. Korea has eight free trade agreements (FTA) in place and a dozen concluded or under negotiation. Five more are under consideration.
The Korea-U.S. FTA, which entered into force last year, was seen as solidifying the alliance with Washington, while analysts have long seen a trilateral FTA with China and Japan as a potential key to improving relations in Northeast Asia.
Park will take office Feb. 25 with a full plate of diplomatic issues, from North Korea to a territorial dispute with Japan to the tricky task of calibrating ties with the United States and China.
Bilateral FTA’s under negotiation include those with China, Canada and Mexico. Korea has also been encouraged to consider joining the Trans-Pacific Partnership backed by Washington.