Seoul: President Yoon Suk Yeol on Sunday called for the establishment of finance, trade, and industry consultative bodies to prepare for the potential impacts of former U.S. President Donald Trump’s potential return to power. Yoon’s announcement came during a meeting focused on economic and security strategies with ministers and senior aides, highlighting the need for readiness before Trump possibly takes office in late January.
According to Yonhap News Agency, President Yoon emphasized that international markets are already reacting to anticipated shifts in U.S. policy, prompting the South Korean government to closely monitor these developments and ensure comprehensive preparations. He noted that changes under a new U.S. administration could significantly affect the global economy and security landscape, directly impacting South Korea.
Yoon projected positive developments for the shipbuilding and petrochemical sectors under Trump’s energy policies. He also stressed the importance of bolstering cooperation
in advanced industries such as artificial intelligence, biotechnology, and quantum technology. In a recent phone conversation, Trump expressed interest in collaborating with South Korea in the naval shipbuilding industry, focusing on exports and maintenance.
The president highlighted the necessity of maintaining a strong deterrent against North Korea within the robust South Korea-U.S. alliance, aiming to lead efforts in promoting peace and prosperity in the Asia-Pacific region. Yoon also acknowledged that a second Trump administration could introduce shifts and unpredictability in the U.S.-South Korea alliance, potentially increasing the pressure on Seoul to assume a larger role as a U.S. ally.
Key concerns include Trump’s approach to North Korea’s denuclearization and his strategy regarding Russia’s war in Ukraine, where North Korean troops have reportedly been deployed to support Moscow. Yoon and Trump have agreed to meet soon for further discussions on these pressing issues.