South Korea political turmoil pushes companies to take tariff matters into their own hands

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Seoul: South Korean business leaders are taking action to remove the threat posed by US President Donald Trump’s aggressive trade policies, hiring his ex -assistants, and the Republican states are delayed by their own government in a state of disappointment.

Trump’s clean and sometimes indiscriminate trade measures have sparked an existential debate in many international capitals about how much they can rely on the United States, from trade to politics.

Although it remains to be seen how this stirring can affect the long -standing alliance and close economic relations between Washington and Seoul, it is higher for South Korea than in other countries, as it has suffered the worst political crisis in the decades when President Yun Sik Yule was briefed on December 3.

Among the trade tensions between China and the United States, Yun’s policy with Washington has also increased its dependence on South Korea’s US market, which has contributed nearly 20 % of its total exports last year, which threatens its business for potential revenue changes.

“We are disappointed,” said a major business party executive. The executive said the government did not discuss any concrete plan to bring Trump to the negotiating table in meetings with corporate representatives.

South Korean companies are also worried that they do not have enough backing by the government, when leaders from Japan and India have already met Trump and have tried to avoid damaging US taxes, company officials said.

South Korea’s acting president Choi Sang Mock has not yet spoken directly to Trump, and told lawmakers earlier this month that the acting leadership could respond to the changes in the US tariff system. Korea could benefit from its US investment and energy imports in potential negotiations, he said.

The ministry said on Tuesday that South Korean Minister of Industry will travel to the United States this week to discuss ways to re -suppress steel prices and promote cooperation in energy and shipbuilding.

Amid the uncertainty that the domestic political crisis will end soon, the country’s Business Association sent a delegation of large companies like Samsung, LG, SK and Hyundai Motor to Washington last week, and two sources were aware of the matter.

At the meeting, Lutnik encouraged investment in the United States, according to one of the sources. It was not immediately clear what the Korean delegation team had requested. Companies are also organizing separate meetings to connect US government officials.

Former Hundi Motor’s chief Jose Manoz, who was developed as the first foreign CEO of a South Korean firm in November, told the shareholders earlier this month, “We are negotiating with the new US administration to reinforce our important investment, job creation and economic impact.”

Hyundi also developed former US diplomat, Song Kim in November as president in November as president of international government affairs. The company wants to organize the opening ceremony of the car factory in Georgia, three of them told Reuters, two of them say that the automaker is trying to invite Trump to the program.

Autos, semiconductors and steel, which are being reviewed by the Trump administration, are among the major South Korean industries.

Hundi said no decision has been made about the event. The executive of a major business party said that the affiliates are also considering organizing an outreach event in Tennessee for their joint investment in the Republican state as part of efforts to gain political influence at the federal level.

In a binding

Analysts expect a judicial decision in March to be expected to abolish or restore its presidential powers. If it has been removed from the office, elections should be held within 60 days to elect a new president.

In 2017, when Trump started his first term, President Park was hearing the case of Jeon.

Former Minister of Commerce Yu Han said that the Trump administration moved more gradually with its price policies, which gave South Korea some time for penture, and helped to win steel prices in exchange for quota, which imposed a hat on export volume to the United States.

“They are now moving at the pace of electricity,” said Yew, a Seoul official said he was “facing many difficulties”, and there are concerns that the next president’s current interim government cannot comply with the promises made with the United States, for example.

Washington -based think tank, president of the Korea Economic Institute of America (K), Scott said that one of the major obstacles is that there is no dialogue with leaders between the two countries.

He said, “This is something that is right now.”