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Industry minister says US trip focused on dispelling concerns about Korean economy amid political uncertainty

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Industry Minister Ahn Duk-geun speaks during a meeting with reporters in Washington, D.C., Jan. 9. Yonhap

Industry Minister Ahn Duk-geun speaks during a meeting with reporters in Washington, D.C., Jan. 9. Yonhap

Industry Minister Ahn Duk-geun said Thursday he has stressed to U.S. lawmakers that Korea has been stably managing its economy and industries, as the Asian country has been thrust into a period of political uncertainty following President Yoon Suk Yeol's botched martial law bid last month.

During his visit to Washington, D.C., this week, Ahn drove home the message in talks with lawmakers both in the House of Representatives and the Senate, who are dealing with trade and tax issues, as well as those whose districts are where Korean businesses have invested.

"At a time when there are many concerns about Korea's domestic political situation and external credibility, (I) dispelled the concerns of key U.S. figures by stressing that our government has been stably managing the domestic economy and industries," he told Korean correspondents in Washington.

During his meetings with U.S. lawmakers, Ahn also relayed Seoul's position that the U.S. government's support for Korean businesses, which have invested in the U.S. in conjunction with the Inflation Reduction Act and the CHIPS and Science Act during the Biden administration, should continue under the incoming Trump administration.

"We have reached a shared understanding that maintaining steady, consistent policy vis-a-vis Korean businesses that have invested in the U.S. is important in terms of creating a friendly business environment given that as a result of their increased investment in line with the U.S.' industry and trade policies, the two countries' supply chain connectivity has strengthened," he said.

Ahn also met with Sen. Todd Young (R-IN), who has introduced the SHIPS for America Act jointly with his colleagues to bolster America's maritime industry.

"I explained (to Young) that Korea is a core partner in the process of the incoming Trump administration trying to rebuild the U.S. shipbuilding industry, and agreed to continue communication and cooperation during the process of the U.S.' legislation and policy formulation going forward," the minister said. (Yonhap)



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