Anduk Geun, Head of Trade Headquarters, Attends First In-Person US IPEF Ministerial Meeting

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Dongwoo Lee] The Ministry of Trade, Industry and Energy announced on the 8th that Andeokgeun, the Chief Negotiator for Trade, will attend the Indo-Pacific Economic Framework (IPEF) ministerial meeting held in Los Angeles, USA, on the 8th and 9th. This event is the first in-person ministerial meeting since the launch of IPEF in May.

IPEF is an economic consultation body of 14 Asia-Pacific countries launched under the leadership of the U.S. government on May 23. Japan, Australia, New Zealand, India, Fiji, and seven Southeast Asian countries participate to discuss the agenda to be addressed within IPEF.

Co-chaired by Katherine Tai, U.S. Trade Representative (USTR), and Gina Raimondo, U.S. Secretary of Commerce, the meeting will discuss the scope and agenda of negotiations in four major areas: trade, supply chains, clean economy, and fair economy.

Our government has participated as an inaugural member of IPEF and has proceeded with domestic procedures including an economic feasibility review by the Korea Institute for International Economic Policy in May-June, a public hearing in July, approval of the promotion plan through the Ministerial Meeting on Foreign Economic Affairs in August, and reporting to the National Assembly.

Earlier, on the 6th (local time), Chief Negotiator Andeokgeun met with U.S. Congressman Adrian Smith at the U.S. Capitol in Washington DC to discuss the issue of damage to Korean electric vehicles caused by the passage of the U.S. Inflation Reduction Act (IRA). On the 7th (local time), he met with Katherine Tai, USTR representative, and it is reported that they agreed to form a bilateral consultative body on this issue.

An official from the Ministry of Trade, Industry and Energy said, “Chief Negotiator Andeokgeun will participate in this meeting as Korea’s chief representative and will strive to maximize the reflection of our national interests in the IPEF discussions, which focus on promoting regional economic activities, revitalizing investment, and achieving sustainable and inclusive economic growth.”

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