Seoul
South Korea’s President Yoon Suk Yeol has called for the establishment of consultative bodies in finance, trade, and industry to prepare for the potential impacts of Donald Trump’s return to the U.S. presidency. In a meeting with key ministers and aides on Sunday, Yoon discussed the need for comprehensive strategies ahead of Trump’s inauguration in January.
“International markets have already started adjusting in response to expected policy shifts,” Yoon said, urging the government to closely monitor market reactions and ensure robust preparations. He warned that the new U.S. administration’s policies could drastically affect both global economic and security landscapes, which would, in turn, impact South Korea.
Yoon particularly highlighted opportunities for South Korea’s shipbuilding and petrochemical sectors under Trump’s energy policies and stressed the importance of deepening cooperation in high-tech industries like AI, biotechnology, and quantum technology. During a phone conversation, Trump also expressed interest in collaborating with South Korea in naval shipbuilding and related exports.
In terms of defense, Yoon emphasized maintaining a strong South Korea-U.S. alliance, especially with regard to North Korea’s threats. The prospect of Trump’s second term could bring shifts in the alliance, potentially placing greater pressure on South Korea to contribute more to shared defense efforts.
The potential changes in U.S. policy regarding North Korea’s denuclearization and the war in Ukraine, especially in light of North Korean support for Russia, will also be critical areas of concern.
