Industry Minister Ahn Duk-geun speaks at a trade forum hosted by the Korea International Trade Association, Jan. 20. Yonhap

Industry Minister Ahn Duk-geun said Tuesday the government has sent a working-level delegation to the United States to discuss potential shifts in trade policies under the second Donald Trump administration.

Ahn made the announcement in a joint meeting with officials from related ministries and private entities to discuss the government's response to Trump's protectionist trade policies.

The industry ministry will also strengthen its communications with its U.S. counterparts by operating a communications channel between high-ranking officials once the U.S. Department of Commerce and the Office of the U.S. Trade Representatives complete their personnel reshuffle.

"The public and private sectors should cooperate to fully respond to (U.S. trade policies) as there are risks and opportunities at the same time," Ahn said.

The minister cited the shipbuilding and energy industries as potential areas where Seoul could strengthen collaboration with Washington.

A joint meeting of officials from trade-related ministries and private entities to discuss the government's response to a potential shift in U.S. trade policies under the new Donald Trump administration is held in Seoul, Jan. 21. Yonhap

During his inauguration address, Trump vowed to immediately begin an overhaul of America's trade system to protect American workers and families.

He had pledged to slap blanket tariffs of 10 to 20 percent on all imports throughout his campaign, while threatening to impose tariffs of up to 60 percent on Chinese goods.

Shortly after taking office, Trump signed an executive order to consider the elimination of what he called "unfair" subsidies for electric vehicles, which, if realized, may seriously affect South Korean carmakers.

Earlier in the day, Ahn also held a meeting with the Korea International Trade Association (KITA) and said the government will come up with measures next month to support export companies amid a negative outlook for semiconductors, automobiles and other major export items in the first half due to global economic uncertainties.

"Exports are expected to be particularly difficult in the first half due to the deteriorating export conditions of key items, such as semiconductors and automobiles, as well as the base effect," Ahn said, according to his ministry.

Ahn asked KITA to use its global network to help create favorable conditions for South Korean companies and work as a think tank to help the government create effective trade policies.

In 2024, exports jumped 8.2 percent on-year to reach a new annual high of $683.8 billion, but the industry ministry has said uncertainties surrounding exports will likely be high this year due to the launch of a new U.S. administration and geopolitical risks.

"Geopolitical risks, rising protectionism and supply chain realignments pose significant challenges to our trade," Ahn said. "However, the government will collaborate closely with key nations to mitigate these risks." (Yonhap)