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Trade Minister: Exports Likely to Suffer in First Half

Written: 2025-01-21 18:29:43Updated: 2025-01-21 19:06:22

Trade Minister: Exports Likely to Suffer in First Half

Photo : YONHAP News

Trade minister Ahn Duk-geun says the nation’s exports are likely to face hardship particularly in the first half of the year, adding that the government is preparing to unveil next month emergency export measures. 

Ahn made the remark on Tuesday when he visited the Korea International Trade Association(KITA) in Seoul and met with its chair Yoon Jin-sik. 

The meeting was the first on-site event for Ahn since Donald Trump was inaugurated the 47th U.S. president on Monday.

The minister said exports are expected to face difficulty in the first half of the year due to worsened conditions for key items, including semiconductors and vehicles as well as due to a base effect. 

He requested KITA to play the role of a think tank in trade and commerce in order to devise strong measures to address such expected difficulties. 

In particular, Ahn requested the association to fully mobilize its network in a bid to create, together with the government, a friendly environment for South Korean export companies in time for the launch of the new U.S. government. 

He also instructed the association to boost its legal support ability as key economies are likely to increase restriction of foreign imports.

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