Seoul, March 20: The Ministry of Commerce, Industry, and Resources has established a joint task force in collaboration with private industries. Officials stated that the aim is to coordinate responses to the United States’ trade investigations concerning structural overcapacity and forced labor in South Korea.
Earlier this month, the Office of the U.S. Trade Representative (USTR) initiated ongoing trade investigations in South Korea and other major economies.
These investigations seek to uncover “unfair” trade practices related to structural overcapacity and production, as well as separate inquiries into forced labor under Section 301 of the Trade Act of 1974.
The task force, led by the Ministry of Commerce, Industry, and Resources, includes officials from relevant authorities, private industry representatives, and trade experts.
This task force will respond to trade investigations and associated processes, such as submitting written opinions and participating in public hearings.
During a trade strategy meeting on Friday, Commerce Minister Yo Han-Koo remarked that the USTR’s actions appear aimed at reinstating trade measures previously imposed by the U.S. These measures were implemented following the U.S. Supreme Court’s annulment of President Donald Trump’s “reciprocal” tariffs.
He emphasized that the government will respond cautiously to the situation and operate based on the possibility of the USTR initiating additional trade investigations.
Recently, the U.S. Trade Representative’s office has begun investigations under Section 301 of the Trade Act of 1974 across 60 economies, including South Korea.
This move comes against the backdrop of the Trump administration’s efforts to impose new tariffs in place of the reciprocal tariffs that were annulled by the Supreme Court last month.
Minister Koo stated during a government economic affairs meeting, “We hope to maintain the broad framework of the U.S.-South Korea agreement, ensuring that the outcomes are not more favorable compared to other major competitors.”
The investigations will determine whether these countries have taken adequate steps to ban imports of goods produced through forced labor. Countries involved in the investigation include South Korea, China, Japan, India, Indonesia, the UK, Australia, Canada, and Taiwan.
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