Acting President Choi Sang-mok speaks during a luncheon meeting with local exports at the government complex building in Seoul, in this photo provided by the Ministry of Economy and Finance, Feb. 3. Yonhap

Acting President Choi Sang-mok said Monday that the government will devise an "emergency exports strategy" in response to the United States' hefty tariffs on major trading partners, his office said.

Choi made the remarks during a luncheon meeting with Korean exporters, as President Donald Trump's escalating tariff threats pose a significant challenge to Asia's fourth-largest economy, which heavily relies on exports for growth.

"With heightened tensions following President Trump's imposition of high tariffs on Mexico, Canada and China, we will mobilize all available resources to minimize the negative impact on our economy and businesses," Choi was quoted by the finance ministry as saying.

Without further elaborating, Choi said the government will devise the strategy with relevant agencies and announce it by the end of this month, according to the ministry.

Choi also highlighted government plans to provide an unprecedented 360 trillion won ($245 billion) in export financing to support exporters, the ministry said.

Choi noted Korea's exports are expected to grow this month, after January shipments declined for the first time in 16 months, largely due to the extended Lunar New Year holiday.

"Despite the holiday impact, average daily exports reached a record high in January. Considering this trend and the number of working days, exports are expected to rebound in February," Choi said. (Yonhap)