Seoul: South Korea’s finance minister, Choi Sang-mok, affirmed on Thursday that the government would make every effort to minimize any negative effects stemming from potential changes in U.S. trade policies following the election of Donald Trump. Choi announced that the South Korean government would engage in close discussions with local companies to devise strategies that would mitigate any adverse impacts on domestic businesses.
“We will listen to what companies need to say to come up with strategies to respond, and work to minimise any adverse impact on local companies,” Choi stated during a policy meeting with foreign and trade ministers. The meeting focused on potential shifts in U.S. trade policy under Trump’s leadership and their anticipated implications for South Korea.
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Furthermore, Choi emphasized the government’s commitment to monitoring financial markets closely, particularly during the transition period, and preparing contingency plans to address any potential market volatility as the U.S. administration change unfolds.
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