Minister of Industry urges US to improve steel Section 232... Discusses Indo-Pacific Economic Cooperation Initiative

[Sejong=Asia Economy Reporter Kwon Haeyoung] Moon Seung-wook, Minister of Trade, Industry and Energy, discussed the United States' Indo-Pacific Economic Framework with Gina Raimondo, U.S. Secretary of Commerce. As the U.S. is preparing to ease steel export restrictions to Japan following the European Union (EU), it also repeatedly urged the start of negotiations to improve the 'Steel Section 232' with South Korea.

According to the Ministry of Trade, Industry and Energy on the 22nd, Minister Moon discussed Korea-U.S. industrial cooperation and regional cooperation measures with Secretary Raimondo that morning. This consultation came about a month after the Korea-U.S. Commerce Ministers' Meeting held in Washington D.C. during Minister Moon's visit last month.

First, both sides shared recent achievements in Korea-U.S. industrial cooperation, including the Korea-U.S. Semiconductor Partnership Dialogue and Standards Cooperation Dialogue, held following last month's face-to-face meeting. They also exchanged views on the Indo-Pacific Economic Framework announced by U.S. President Joe Biden at the East Asia Summit (EAS) in October.

Secretary Raimondo stated, "There is a need to establish common principles and standards on new issues such as digital, supply chains, and climate change," adding, "We want to seek opinions on the cooperation that Indo-Pacific regional countries desire."

Minister Moon said, "We are currently reviewing the U.S. framework internally," emphasizing, "The Korea-U.S. partnership has expanded more than ever recently, and when such bilateral cooperation forms the foundation, regional cooperation can be further activated."

Additionally, Minister Moon urged the initiation of negotiations to improve Steel Section 232. He insisted, "In light of recent changes such as the U.S.-EU agreement and the start of U.S.-Japan negotiations, negotiations should also begin with our country, a close ally."

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