Minister of Trade, Industry and Resources Kim Jung-Kwan (second from left) on Feb. 23 speaks at a meeting held at the Korea Chamber of Commerce and Industry in Seoul's Jung-gu District on responses by the public and private sectors to the U.S. Supreme Court rejecting the use of the International Emergency Economic Powers Act. (Ministry of Trade, Industry and Resources) 

By Yoo Yeon Gyeong

Minister of Trade, Industry and Resources Kim Jung-Kwan on Feb. 23 pledged to "closely communicate with the U.S. and maintain friendly consultations" in the wake of the U.S. Supreme Court striking down U.S. President Donald Trump's use of the 1977 International Emergency Economic Powers Act to justify tariffs on Korea and other trading partners.

He made the announcement that morning while chairing a meeting at the Korea Chamber of Commerce and Industry in Seoul's Jung-gu District on joint responses by the public and private sectors on the ruling and other tariffs by the U.S.

Minister Kim said, "Under the principle of maximizing national interests, the government will keep close communication and friendly consultations with the U.S. so that the balance of interests and conditions for exports to the U.S. secured through a bilateral tariff agreement are not undermined."

"We will persistently pursue policy to raise our corporate competitiveness and diversify exports amid potential changes in export conditions, as well as cooperate with relevant organizations and trade associations and groups to provide timely information to companies in response to uncertainty over tariff refunds."

dusrud21@korea.kr