Minister of Trade, Industry and Energy Kim Jung-kwan said U.S. trade protectionism and China's monopoly over critical minerals are increasing uncertainty surrounding South Korea's export structure, which is highly reliant on specific countries and vulnerable to external shocks.

During the parliamentary audit on Monday, Kim said domestic industries and businesses face a multifaceted crisis, stating that a decline in South Korea's productivity is weakening its industries and prospects for sustainable growth.

The minister pledged to resolve trade issues, including tariff negotiations with the U.S., with national interests and pragmatism in mind.

Specifically, he vowed to do his best in ongoing discussions with Washington, bolster strategic cooperation with the U.S., China and Japan and diversify a cooperative network with the Global South.

The minister also proposed to expand the application of artificial intelligence(AI) in the manufacturing sector and create a Renewable Energy 100 Percent industrial complex by 2030 to promote renewed growth.