Deputy Prime Minister Koo Yoonchul: "New Foreign Economic Strategy for the New Administration to Be Announced Soon"

New Foreign Economic Strategy to Be Announced Soon
Follow-up Measures for U.S. Tariff Negotiations Also Forthcoming

The government will soon finalize and announce a new "New Foreign Economic Strategy" for the new administration in order to respond to uncertainties in the trade environment. In addition, follow-up measures to support the recently concluded tariff negotiations with the United States will also be released soon.

Koo Yoonchul, Deputy Prime Minister for Economy and Minister of Strategy and Finance, is attending the Ministerial Meeting on External Economy held at the Government Seoul Office in Jongno-gu, Seoul, on September 2, 2025. Photo by Cho Yongjun

On September 2, at the Government Seoul Office, Deputy Prime Minister and Minister of Strategy and Finance Koo Yoonchul presided over the Foreign Economic Ministers' Meeting and stated, "We will respond with the attitude of 'adapting swiftly to the changing world,'" and added, "We plan to finalize and announce the new administration's New Foreign Economic Strategy." He continued, "Through the follow-up support measures for the U.S. tariff negotiations, which will be announced soon, we will actively support our companies in responding to tariffs and also work to strengthen industrial competitiveness."

Regarding last week's Korea-U.S. summit, Deputy Prime Minister Koo assessed, "It served as a turning point for developing a 'future-oriented alliance' that combines the economies, security, and advanced technologies of both countries." He highlighted that two contracts and nine MOUs were signed in strategic industries such as shipbuilding, nuclear power, aviation, LNG, and key minerals, emphasizing, "We have established a bridgehead for the 'Korea-U.S. Manufacturing Renaissance Partnership.'"

He went on to say, "The 350 billion dollar U.S. investment financial package reconfirmed the broad agreement reached on July 30," and added, "We will continue bilateral consultations to develop detailed implementation plans." Regarding the Korea-Japan summit, he evaluated it as an opportunity to advance substantive discussions between the two countries. He also stated that cooperation in future core industries where both countries can create synergy, such as linking hydrogen supply chains and jointly entering the global south in the field of AI, will be strengthened.

He also announced plans to strengthen cooperation with major ASEAN countries to stabilize supply chains and diversify export markets. Deputy Prime Minister Koo said, "We will swiftly finalize the Comprehensive Economic Partnership Agreement (CEPA) with Thailand, which has the world's third-largest market size, to expand into the ASEAN market," and added, "We will also promptly conclude the FTA with Malaysia." He stated that negotiations to improve the FTA with Singapore will be pursued to reflect changes in the economic and trade environment.

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