Sung Yun-mo: "We Must Actively Respond to New Trade Issues of 'Climate Change, Digital, and Technology Security'"

Sung Yun-mo, Minister of Trade, Industry and Energy. (File photo)
[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Sung Yun-mo, Minister of Trade, Industry and Energy, emphasized on the 5th that "we must actively respond to new trade issues such as climate change, digital transformation, and technology security."

On the same day in the afternoon, Minister Sung held the '2021 Commercial Counselor Meeting' via video conference under the theme of 'Enhancing Export Vitality and Responding to Global New Trade Issues.'

Commercial counselors are responsible for industry, trade, and resource-related tasks at overseas diplomatic missions, resolving difficulties faced by Korean companies operating locally, consulting with host country governments, and monitoring market trends.

The meeting was attended by 51 commercial counselors from 35 countries, focusing on major countries such as the United States, China, Japan, the EU, and India. They discussed plans to achieve a positive export growth this year amid the COVID-19 crisis and to reach $700 billion in exports by 2025. Additionally, they reviewed trends in discussions on new global trade issues such as climate change, carbon neutrality, digital transformation, and technology security, and sought strategies for response and cooperation.

Minister Sung stated, "Commercial counselors must serve as the vanguard for turning exports positive and achieving $700 billion in exports by 2025," adding, "Please build close networks with host country governments, promptly grasp local trends and swiftly relay them to the home country, and actively present our position to ensure that new trade issues do not become export barriers for our companies."

The Ministry of Trade, Industry and Energy plans to concretize the matters discussed at this meeting and reflect them in policies to respond to the rapidly changing export and trade environment.

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