Seoul's trade minister says the government is gearing up for various scenarios of the upcoming U.S. presidential election in November. 

Minister of Trade, Industry and Energy Ahn Duk-geun told reporters during a briefing on Tuesday that the government is getting ready for repercussions of potential changes in Washington's policies following the election. 

The minister said South Korean firms' proper adjustments to new policies will be key, noting that consultation channels will be put in place between the Korean government and businesses in the event of changes in Washington.

His remarks come amid speculations that a victory by former U.S. President Donald Trump could further decouple U.S. and Chinese economies to rattle the global trade environment.

Calling China an important industrial partner, Ahn reiterated that Seoul has no plans to decouple from China.