South Korean Trade Minister Presents Industrial Policies at OECD Meeting

Trade Minister Yeo Han-koo presented South Korea's industrial policies at the OECD Ministerial Council Meeting held in Paris from Wednesday to Thursday. He represented South Korea, one of the vice chairs of the meeting, and led discussions on promoting economic growth, trade and investment.

Yeo described policies including the artificial intelligence transformation of the manufacturing sector, the transition to clean energy, and balanced regional growth. He called for major economies to balance trade and industrial policies so they do not interfere with open market and fair trade principles.

On the sidelines of the meeting, Yeo held bilateral talks with officials from the United States, Europe, Latin America and international organizations. Discussions covered challenges facing Korean companies overseas and ways to expand industrial and trade cooperation.

He addressed Seoul's concerns over the European Union's planned implementation of stronger steel safeguard measures in a meeting with Maros Sefcovic, commissioner for trade and economic security at the European Commission. Yeo also met with Nicolas Forissier, the French minister responsible for foreign trade and economic attractiveness, to discuss France's electric vehicle subsidy scheme.

He addressed concerns over Britain's steel tariff hike in a meeting with Chris Bryant. Additional meetings were held with trade officials from Argentina and Brazil. Yeo attended the unofficial World Trade Organization trade ministers' meeting this week to discuss ways to reform the WTO's governance, the ministry said.