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RoK to seek closer ties with ASEAN

The Republic of Korea (RoK) will make efforts to expand economic exchanges and cooperation with Southeast Asian countries to address anticipated changes in the global trade environment after the new US administration signaled plans to implement protectionist measures, according to its Ministry of Trade, Industry and Energy.

nearly 4,000 Korean companies are currently operating in the 10 member countries of the Association of Southeast Asian Nations (ASEAN). (Illustrative photo: vietnamtimes.org.vn)
nearly 4,000 Korean companies are currently operating in the 10 member countries of the Association of Southeast Asian Nations (ASEAN). (Illustrative photo: vietnamtimes.org.vn)

Seoul (VNA) – The Republic of Korea (RoK) will make efforts to expand economic exchanges and cooperation with Southeast Asian countries to address anticipated changes in the global trade environment after the new US administration signaled plans to implement protectionist measures, according to its Ministry of Trade, Industry and Energy.

The ministry unveiled the vision during its forum with trade experts, pointing out that nearly 4,000 Korean companies are currently operating in the 10 member countries of the Association of Southeast Asian Nations (ASEAN).

Korean Deputy Minister for Trade Park Jong-won said that it has become more important than ever to expand future-oriented economic cooperation with the ASEAN region, a key area of the Global South.

The industry ministry will proactively pursue intergovernmental coordination to ensure stable business operations for Korean businesses amid a fast-changing trade environment.

Shortly after taking office, US President Donald Trump signed a memorandum on America First trade policy, calling for a review of existing US trade agreements, which may potentially affect the RoK's exports to the US./.

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