Behind the Scenes of Minister Sung Yun-mo's US CES Business Trip

On the 8th (local time), a missile attack by the Iranian Revolutionary Guard Corps on a U.S. military base in Iraq. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] "It’s not the Korea Federation of SMEs at 3 PM, but the Blue House at 2 PM." "What’s with the article saying he’s at the Blue House? Isn’t he supposed to be in Silicon Valley?"

These were reactions regarding Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy’s schedule on the 6th and 9th.

On the 6th, Minister Sung was scheduled to attend the New Year’s greeting event at the Korea Federation of SMEs in Yeouido-dong, Yeongdeungpo-gu, Seoul at 3 PM, but he turned to head to the Blue House at 2 PM instead.

This was because, under President Moon Jae-in’s directive, he had to attend the National Security Council (NSC) Standing Committee meeting chaired by National Security Office Director Chung Eui-yong to report on oil price management in response to the situation in Iran.

Afterwards, there was a busy effort to confirm whether Minister Sung would depart for the United States as scheduled at 9 PM that evening, and he left for the U.S. as planned.

Seong Yun-mo, Minister of Trade, Industry and Energy, met with Scott Huffman, Vice President of Google (Head of Assistant), at the Google exhibition booth at CES in Las Vegas, Nevada, USA, on the 7th (local time). (Photo by Ministry of Trade, Industry and Energy)

However, according to the Ministry of Trade, Industry and Energy, on the 5th, Minister Sung called in Trade Negotiations Chief Yoo Myung-hee, Vice Minister Jung Seung-il, Energy Resources Office Director Joo Young-joon, and spokesperson Moon Shin-hak to discuss whether oil price management could be properly handled during his U.S. business trip from the 6th to the 11th.

It is known that Minister Sung did not deliver specific detailed instructions. The ministry stated that since last September, when Saudi Arabia’s oil company Aramco’s oil field was attacked by drones, the Oil Industry Division has smoothly responded according to the emergency manual, so they judged that they could handle the crisis even without the minister.

Minister Sung Yun-mo also met with Eric Allison, Head of Uber Elevate, at the Venetian Hotel in Las Vegas, Nevada, USA, on the 7th (local time). (Photo by Yonhap News)

Confusion arose again on the afternoon of the 9th. The Blue House mistakenly announced that "Deputy Prime Minister Hong and Minister Sung will also attend" as the NSC Standing Committee was convened again to closely examine the current situation’s impact on oil prices and the overall economy.

At the same time, Minister Sung was meeting with DuPont President John Kemp in Silicon Valley, USA, to attract investment for the development and production facilities of extreme ultraviolet (EUV) photoresist worth 28 million dollars over two years until next year.

While the Blue House was announcing Minister Sung’s attendance at the NSC Standing Committee, the Ministry of Trade, Industry and Energy was distributing materials related to 'investment attraction activities in Silicon Valley, USA.' Vice Minister Jung attended the NSC Standing Committee in his place.

[Image source=Reuters Yonhap News]

Fortunately, during the week, news of easing Middle East tensions and U.S.-China trade negotiations led to stabilization in stock indices and oil prices, but earlier in the week, market interest was heightened over the government’s possible dispatch of troops to the Strait of Hormuz.

There was a concern raised by some about whether it was appropriate for the Minister of Trade, Industry and Energy to be absent during such a 'wartime situation.' The government, which should have properly communicated the minister’s movements, also failed to accurately grasp minor facts, which increased confusion.

As a result, Minister Sung succeeded in attracting foreign direct investment (FDI), and the ministry smoothly handled the Iran situation.

However, since the ministry had stated on the 6th that "the Blue House is ready for the minister to return immediately upon request for early return," it is pointed out that communication between government ministries and between the government and the media needs to be more thorough.

[Image source=Reuters Yonhap News]

This content was produced with the assistance of AI translation services.