New Trade Minister Yeo Han-koo pledged to respond strongly in trade negotiations with the Trump administration, while expanding and overhauling a task force covering trade, industry and energy issues.

In his inauguration speech on Thursday, Yeo promised to accelerate the "shuttle negotiations" between the trade ministers from the two sides while reflecting the philosophy of the administration on state affairs.

The minister also announced plans to elevate the rank of the nation's chief working-level negotiator.

Yeo, who had served as trade minister under the former Moon Jae-in government, said he will do his best to establish the organizational framework for mutual cooperation in industry, trade and investment.

He also vowed to enhance domestic industries' global competitiveness, and generate a pragmatic outcome from the negotiation that is aligned with national interests.