Seoul: President Yoon Suk Yeol has called for the establishment of consultative bodies in finance, trade, and industry to prepare for the possible impacts of Donald Trump returning to the U.S. presidency. This directive came during an economic and security meeting with ministers and senior aides, aimed at strategizing before Trump’s potential assumption of office in late January.
According to Yonhap News Agency, Yoon stressed the importance of monitoring international markets, which have already begun reacting to the anticipated policy directions of a new U.S. administration. He highlighted that shifts in U.S. policies could significantly alter the global economic and security landscape, necessitating thorough preparations from the South Korean government.
Yoon expressed optimism about the potential benefits for the shipbuilding and petrochemical sectors under Trump’s energy policies. He also underscored the need to bolster cooperation in advanced industries, such as artificial intelligence, biotechnology,
and quantum technology. During a recent phone conversation with Trump, the U.S. expressed interest in collaborating with South Korea in the naval shipbuilding sector.
The meeting also addressed maintaining deterrence against North Korea and promoting peace in the Asia-Pacific region, as structural changes in security might occur. A potential second Trump administration could bring changes to the U.S.-South Korea alliance, with increased expectations on Seoul regarding the alliance burden.
Another area of concern is Trump’s potential approach to North Korea’s denuclearization and the ongoing conflict in Ukraine, especially given the recent deployment of North Korean troops to Russia. Yoon and Trump have agreed to meet soon for further discussions on these matters.
President Yoon instructed his administration to engage closely with Korean companies to incorporate their needs into national policies. During the meeting, attendees assessed Trump’s proposed tariffs and energy policies to identify business opport
unities and mitigate adverse impacts on Korean enterprises.
Security discussions included defense cost-sharing for U.S. Forces Korea and North Korea’s military involvement in Russia. Officials focused on enhancing deterrence against North Korea, improving security and defense industry cooperation, and leveraging synergies through advanced technological collaboration.
Observers speculate that Trump, known for his transactional approach to alliances, might seek to renegotiate the defense cost-sharing agreement with South Korea, potentially increasing Seoul’s financial contribution for the U.S. military presence.
In a lighter development, Yoon has started practicing golf, potentially preparing for a meeting with Trump, a known golf enthusiast. This move echoes the strategy of former Japanese Prime Minister Shinzo Abe, who fostered ties with Trump through golf during Trump’s first term.