What Are South Korea's Plans for Bilateral Trade Talks with 14 Partners at the APEC Meeting?
Click to start listening
Synopsis
Join us as South Korea strengthens its trade relationships with 14 nations, including the U.S. and Japan, amidst global economic uncertainties. Discover how these discussions are shaping the future of bilateral economic cooperation in the Asia-Pacific region.
Key Takeaways
- South Korea aims to enhance bilateral trade cooperation with 14 partners.
- The APEC meeting took place on Jeju Island.
- High-level talks included representatives from WTO.
- Trade discussions focus on advanced industries and energy sectors.
- Efforts are underway to mitigate trade uncertainties.
Seoul, May 17 (NationPress) South Korea has engaged in discussions aimed at boosting bilateral economic and trade cooperation with the United States, China, Japan, and multiple other partner nations during the Asia-Pacific Economic Cooperation (APEC) meeting. This dialogue comes amid growing uncertainties in the global economic and trade environment, as reported by the industry ministry.
The two-day APEC Ministers Responsible for Trade Meeting was hosted on South Korea's southern resort island of Jeju from Thursday, providing a platform for trade ministers from regional economies to conduct one-on-one discussions, according to the Ministry of Trade, Industry and Energy in Seoul, as noted by Yonhap news agency.
During the meeting, South Korean trade and industry representatives participated in high-level bilateral discussions with delegates from 14 of the 20 other APEC member economies, along with the director-general of the World Trade Organisation (WTO), to seek opportunities for trade collaboration and coordination.
“In my meeting with U.S. Trade Representative Jamieson Greer yesterday, I outlined the current political scenario and various domestic issues ahead of the upcoming presidential election. We also evaluated the necessary steps to finalize the negotiations,” stated Trade Minister Cheong In-kyo at a press briefing.
Industry Minister Ahn Duk-geun is set to meet with Greer later today, which is anticipated to provide both sides a chance to comprehend each other's positions during these two rounds of tariff discussions.
Last month, the Donald Trump administration initiated reciprocal tariffs on partner nations, including 25 percent duties on South Korea, but suspended them soon after to facilitate one-on-one negotiations.
Seoul and Washington later agreed to pursue a “July package” deal concerning trade and other related matters before July 8, when Trump's 90-day suspension on reciprocal tariffs is set to end.
Cheong also met with senior officials from Japan's economic and foreign ministries on Jeju, where the two nations agreed to strengthen cooperation in advanced industries, hydrogen, and other emerging energy sectors, as well as supply chains, according to the ministry.
In a separate conference with his Indonesian counterpart, Cheong sought active support for South Korean firms operating in the Southeast Asian country.
“The government will strive to minimize uncertainties in the trade landscape and external risks by further solidifying the foundation for cooperation with the Asia-Pacific region,” the ministry released in a statement.
Point of View
It's clear that South Korea's proactive approach in engaging multiple nations at the APEC meeting reflects its commitment to enhancing economic stability and cooperation in the Asia-Pacific region. This strategy is essential for navigating the current uncertainties in the global trade environment, and it underscores the importance of multilateral dialogue in fostering economic resilience.
NationPress
22/09/2025
Frequently Asked Questions
What is the purpose of South Korea's bilateral trade talks at the APEC meeting?
The purpose is to strengthen economic and trade relationships with various partner nations while addressing uncertainties in the global trade landscape.
Which countries are involved in the bilateral trade discussions?
South Korea is discussing trade cooperation with 14 partner nations, including the United States, China, and Japan.
What are the expected outcomes of these trade talks?
The expected outcomes include enhanced cooperation in advanced industries and the establishment of a framework for future trade agreements.
How does the current political situation impact trade negotiations?
The ongoing political climate, including the upcoming presidential election in the U.S., influences the negotiation strategies and discussions.
What measures is South Korea taking to support its companies abroad?
South Korea is actively seeking support from partner nations to facilitate the operations of its companies, particularly in Southeast Asia.
