Industry minister says US trip focused on dispelling concerns about Korean economy amid political uncertainty

Business Minister Ahn Duk-geun speaks throughout a gathering with reporters in Washington, D.C., Jan. 9. Yonhap

Business Minister Ahn Duk-geun mentioned Thursday he has harassed to U.S. lawmakers that Korea has been stably managing its economic system and industries, because the Asian nation has been thrust right into a interval of political uncertainty following President Yoon Suk Yeol’s botched martial regulation bid final month.

Throughout his go to to Washington, D.C., this week, Ahn drove house the message in talks with lawmakers each within the Home of Representatives and the Senate, who’re coping with commerce and tax points, in addition to these whose districts are the place Korean companies have invested.

„At a time when there are various issues about Korea’s home political scenario and exterior credibility, (I) dispelled the issues of key U.S. figures by stressing that our authorities has been stably managing the home economic system and industries,“ he advised Korean correspondents in Washington.

Throughout his conferences with U.S. lawmakers, Ahn additionally relayed Seoul’s place that the U.S. authorities’s assist for Korean companies, which have invested within the U.S. at the side of the Inflation Discount Act and the CHIPS and Science Act in the course of the Biden administration, ought to proceed below the incoming Trump administration.

„Now we have reached a shared understanding that sustaining regular, constant coverage vis-a-vis Korean companies which have invested within the U.S. is necessary by way of making a pleasant enterprise setting on condition that because of their elevated funding in step with the U.S.‘ trade and commerce insurance policies, the 2 nations‘ provide chain connectivity has strengthened,“ he mentioned.

Ahn additionally met with Sen. Todd Younger (R-IN), who has launched the SHIPS for America Act collectively together with his colleagues to bolster America’s maritime trade.

„I defined (to Younger) that Korea is a core companion within the strategy of the incoming Trump administration making an attempt to rebuild the U.S. shipbuilding trade, and agreed to proceed communication and cooperation in the course of the strategy of the U.S.‘ laws and coverage formulation going ahead,“ the minister mentioned. (Yonhap)