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Industry Ministry vows closer ties with key sectors as global trade uncertainty looms

Published: 09 Jan. 2025, 10:23 Updated: 09 Jan. 2025, 13:44

Industry Policy Deputy Minister Lee Seung-ryeol speaks during an event in Seoul on Sept. 11. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

Korea's Ministry of Trade, Industry and Energy on Thursday pledged to strengthen communication with businesses in key industries, including semiconductors and batteries, amid growing uncertainties in the global trade environment ahead of the launch of a new U.S. administration.

Lee Seung-ryeol, deputy minister for industry policy, made the remark during a meeting with representatives from 11 major industries to discuss strategies for maintaining export growth, according to the Trade Ministry.

Korea's exports grew 8.2 percent in 2024 from a year earlier, reaching a record high of $683.8 billion.

"The government and the private sector must enhance cooperation to navigate uncertainties both from home and abroad," Lee said.

Lee also urged businesses to utilize their communication channels to maintain a favorable business environment with the United States, ahead of the start of the second Donald Trump administration later this month.

Yonhap