Pres. Moon vows to respond to irrational protective trade

Pres. Moon vows to respond to irrational protective trade. February. 20, 2018 07:41. weappon@donga.com.
President Moon Jae-in has called on his government to consider all measures to counter what he called "unfair" U.S. trade safeguards against Korean products, such as filing a complaint to the World Trade Organization (WTO) and reviewing possible violation of the Korea-U.S. free trade agreement (FTA).

President Moon held a meeting with his secretaries at his office Cheong Wa Dae on Monday and gave the order written above. “Due to the expansion of U.S. import curbs on our export products such as steel, electronics, solar products and laundry machines, I’m worried that there could be an abnormality in our exports to the United States,” he said. “I hope our government would actively speak up on unfair situations during the KORUS FTA amendment process.”

“As our country has overcome so many challenges, we must stay confident, believing that if the government and companies cooperate and put efforts together, anything can be overcome,” President Moon added, asking companies for cooperation.

He also called on his administration to form a government-wide task force that can invigorate Gunsan’s economy and prepare countermeasures to save the region’s economy, while talking about the shutdown of GM Korea’s Gunsan factory. He also ordered to actively review all possible measures, such as designating the affected city as an employment disaster zone or a special industrial crisis area.