S. Korean joint consultation body vows all-out efforts to help resolve Seoul-Tokyo trade dispute
- 5 years ago
對日 민관정협의회 첫 회의…소재부품산업 경쟁력 강화 총력대응
South Korea has launched a new consultative body made up of lawmakers, government officials and representatives from the private sector to deal with Japan's growing trade restrictions on South Korea.
Today, they held their first meeting at the National Assembly.
Our Kim Mok-yeon tells us more
The joint consultation body involving representatives from the government, parliament and private sector vowed to do its utmost to cooperate and find solutions to Japan's latest export restrictions against South Korea.
Wednesday's meeting was attended by dozens of representatives, including Seoul's finance minister Hong Nam-ki, Cho Jung-sik, chief policy maker of the ruling Democratic Party, presidential chief of staff for policy Kim Sang-jo and the chairman of the Korea Chamber of Commerce and Industry Park Yong-maan.
During the opening remarks, the presidential chief of staff for policy vowed that the government will continue to work to resolve the trade dispute diplomatically.
"The government will continue efforts to solve the issue swiftly and diplomatically. We are keeping in mind that protecting the life and property of the public is the most important priority of a nation."
After an hour long closed-door meeting,... Seoul's finance minister Hong Nam-ki, and the chairman of the Korea International Trade Association, Kim Young-ju were named co-leaders of the consultative body.
Hong said that now that Tokyo is getting ready to expand its trade restrictions on Seoul, they are preparing measures for all possible scenarios, but the details could not be revealed.
He said that the participants agreed that first and foremost is to minimize the impact on local companies.
"Companies will accelerate efforts to stabilize supplies and foster cooperation between small and mid-to-large-sized companies. Our consultative body agreed to inject some 845 million U.S. dollars annually to lower Korea's dependence on Japanese exports."
Members of the consultative body promised to come up with both long-term and short-term plans to boost the competitiveness of South Korea's parts and materials industries.... and to promote localization.
"There is the possibility that Japan could make similar decisions in the future. We should be able to come up with long-term countermeasures that could become a fundamental solution."
While still pressing Japan to withdraw its existing restrictions and stop its plans to expand curbs, participants also vowed to reinforce cooperation with the international community.
Kim Mok-yeon, Arirang News.
South Korea has launched a new consultative body made up of lawmakers, government officials and representatives from the private sector to deal with Japan's growing trade restrictions on South Korea.
Today, they held their first meeting at the National Assembly.
Our Kim Mok-yeon tells us more
The joint consultation body involving representatives from the government, parliament and private sector vowed to do its utmost to cooperate and find solutions to Japan's latest export restrictions against South Korea.
Wednesday's meeting was attended by dozens of representatives, including Seoul's finance minister Hong Nam-ki, Cho Jung-sik, chief policy maker of the ruling Democratic Party, presidential chief of staff for policy Kim Sang-jo and the chairman of the Korea Chamber of Commerce and Industry Park Yong-maan.
During the opening remarks, the presidential chief of staff for policy vowed that the government will continue to work to resolve the trade dispute diplomatically.
"The government will continue efforts to solve the issue swiftly and diplomatically. We are keeping in mind that protecting the life and property of the public is the most important priority of a nation."
After an hour long closed-door meeting,... Seoul's finance minister Hong Nam-ki, and the chairman of the Korea International Trade Association, Kim Young-ju were named co-leaders of the consultative body.
Hong said that now that Tokyo is getting ready to expand its trade restrictions on Seoul, they are preparing measures for all possible scenarios, but the details could not be revealed.
He said that the participants agreed that first and foremost is to minimize the impact on local companies.
"Companies will accelerate efforts to stabilize supplies and foster cooperation between small and mid-to-large-sized companies. Our consultative body agreed to inject some 845 million U.S. dollars annually to lower Korea's dependence on Japanese exports."
Members of the consultative body promised to come up with both long-term and short-term plans to boost the competitiveness of South Korea's parts and materials industries.... and to promote localization.
"There is the possibility that Japan could make similar decisions in the future. We should be able to come up with long-term countermeasures that could become a fundamental solution."
While still pressing Japan to withdraw its existing restrictions and stop its plans to expand curbs, participants also vowed to reinforce cooperation with the international community.
Kim Mok-yeon, Arirang News.