South Korea and the United States have recently come to an agreement to initiate bilateral talks centered on supply chain and commercial matters. Moreover, they are planning to convene a trilateral meeting of industry ministers with Japan in the first half of the year. This significant development was announced by Industry Minister Ahn Duk-geun, who disclosed the details following his extensive visit to Washington. During his time there, Ahn engaged in discussions with various stakeholders, including U.S. Commerce Secretary Gina Raimondo, lawmakers, and industry experts, covering a wide array of topics such as trade, energy, and industrial issues.
The decision to arrange these meetings underscores the concerted efforts of Seoul, Washington, and Tokyo to bolster both bilateral and trilateral cooperation. This initiative aligns with a broader strategy advocated by the United States to establish a robust network of allies, aimed at collectively addressing regional and global challenges.
Ahn emphasized the constructive dialogue with the U.S. Commerce Secretary, focusing on generating comprehensive outcomes from the South Korea-U.S. Supply Chain and Commercial Dialogue (SCCD). Additionally, they explored avenues for collaboration through the South Korea-U.S.-Japan industry ministers’ meeting, an arrangement that was formalized during a landmark summit at Camp David in Maryland, involving South Korean President Yoon Suk Yeol, U.S. President Joe Biden, and Japanese Prime Minister Fumio Kishida.
The SCCD serves as a regular ministerial platform, specifically designed to address the promotion of resilient supply chains for critical products such as semiconductors, batteries, and essential minerals. In addition, Ahn proposed the establishment of a Ministerial Energy Policy Dialogue during bilateral discussions on energy matters, aiming to comprehensively address various energy-related issues.
Furthermore, Ahn advocated for ensuring that South Korean enterprises receive fair treatment, including subsidies and tax incentives, without discrimination. He also stressed the importance of streamlining the visa acquisition process for South Korean workers involved in establishing facilities in the United States. These efforts are aimed at creating a conducive environment for South Korean businesses operating within the United States, fostering economic growth and cooperation between the two countries.