Trade Minister Cheong In-kyo said the government is exerting full efforts to prepare for the reciprocal tariffs that the U.S. government is set to announce Wednesday.

At a meeting with exporters in Seoul on Monday, Cheong said Seoul is in continuous dialogue with Washington over the tariffs to protect the interests of South Korean companies to the greatest extent possible.

Prior to the meeting at LG Sciencepark, the electronics giant’s research and development complex, the trade chief observed prototypes and stressed the importance of technology development and innovation to overcome the changing global trade environment.

The exporting companies in attendance requested the government’s active role in minimizing the impact of the U.S. tariffs.

Cheong, in response, pledged to bolster state support for the proactive expansion of South Korean businesses’ reach into markets in the Global South amid growing trade protectionism from major trading partners.