Seoul to seek mutually beneficial ties with US amid uncertainties: trade minister
Trade Minister Cheong In-kyo, left, speaks during a meeting in Seoul, in this photo provided by the Ministry of Trade, Industry and Energy, Nov. 29. Yonhap
Korea will make efforts to enhance its mutually beneficial ties with the United States, the trade minister said Tuesday, amid rising policy uncertainties surrounding Washington's incoming administration.
Trade Minister Cheong In-kyo made the statement during a meeting with key commercial attaches and senior officials from the Korea Trade-Investment Promotion Agency, also known as KOTRA, to discuss strategies for sustaining Korea's export momentum, according to the Ministry of Trade, Industry and Energy.
"We will closely monitor policy developments under the new U.S. administration and proactively address emerging challenges," Cheong said.
"Korea has been strengthening its alliance with the United States in advanced industries and economic sectors through significant investments by our companies," Cheong said, noting that the two countries' supply chains are deeply interconnected.
"Building on this foundation, we aim to seek mutually beneficial partnerships and explore new business opportunities," he added.
Cheong also highlighted the significance of Korea achieving 14 consecutive months of export growth through November despite challenging conditions, including shipping disruptions, and urged officials to continue efforts to sustain the momentum.
Korea's exports, meanwhile, increased 1.4 percent on-year to $56.3 billion in November, on the back of the robust shipments of semiconductors.
Imports declined 2.4 percent to $50.7 billion, resulting in a trade surplus of $5.61 billion. The country has posted a trade surplus for 18 consecutive months. (Yonhap)