Launch of IPEF Public-Private Strategic Meeting... Discussions on Semiconductors, Automobiles, Steel, and More

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[Asia Economy Sejong=Reporter Dongwoo Lee] The Indo-Pacific Economic Framework (IPEF) Public-Private Strategic Meeting, involving both government and private sectors, was launched on the 23rd.

The Ministry of Trade, Industry and Energy announced that it held the inaugural IPEF Public-Private Strategic Meeting and the first plenary session at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul.

At the meeting, government officials, representatives from major economic organizations, industry-specific associations, and private experts attended to share updates on IPEF discussions and to discuss strategies for advancing IPEF.

The government hopes that the newly launched IPEF Public-Private Strategic Meeting will serve as a starting point for joint responses by the government and private sector in discussing and negotiating IPEF agendas, and plans to hold regular sessions.

Following the meeting, the government plans to establish four working groups focused on trade and supply chains, clean energy/decarbonization/infrastructure, taxation/anti-corruption, and other areas to explore response measures for IPEF.

The working groups will include government ministries such as the Ministry of Foreign Affairs and the Ministry of Economy and Finance, economic organizations like the Korea Chamber of Commerce and Industry, industry-specific groups from sectors such as semiconductors, automobiles, and steel, as well as specialized research institutes. Regular consultations are scheduled to begin in early next month.

An Deok-geun, Director-General for Trade Negotiations, stated, "In a trade environment where global supply chain disruptions and external uncertainties have increased, we will resolve difficulties faced by our companies and manage external trade conditions stably." He added, "IPEF is an economic and trade cooperation body that addresses new trade issues such as supply chains and digital beyond traditional trade issues, aiming to stabilize and diversify supply chains while strengthening industrial competitiveness."

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