Seoul: South Korea's newly elected President Lee Jae-myung has appointed Yeo Han-koo as the country's chief trade negotiator amid ongoing tariff talks with the United States.
According to Anadolu Agency, Yeo Han-koo previously served as trade minister under the Moon Jae-in administration and his appointment comes at a critical time as South Korea navigates its trade relations with the US.
The appointments extend beyond trade, with President Lee also selecting Lee Hyoung-il as the first vice finance minister and Lim Ki-keun as the second vice finance minister. In industry, Moon Shin-hak has been named the first vice minister. These appointments form part of a broader strategy to strengthen South Korea's economic positioning on the global stage.
Earlier discussions between President Lee and US President Donald Trump have focused on achieving a swift resolution to the tariff issues. The US had imposed a 25% tariff on South Korea in April, part of Trump's global tariff strategy, but this was temporarily reduced to 10% for a 90-day period ending on July 8.
In foreign relations, Park Yoon-joo has been appointed as the first vice foreign minister, with Kim Jina as the second. These appointments are seen as steps towards bolstering diplomatic efforts, particularly with the United States and Japan.
Prime Minister nominee Kim Min-seok expressed his intentions to enhance South Korea's relations with both the US and Japan. Kim emphasized his deep understanding of the US, citing long-standing personal relationships with key members of the Trump administration, which he believes will aid in improving bilateral relations.
Kim also highlighted the significance of South Korea-Japan relations in addressing economic challenges and formulating a tariff agreement with the Trump administration.