Lee Hyung-il warns of persistent trade uncertainty, vows preemptive response

"We need to closely examine how shifts in each country's political and policy environment will affect external economic conditions, and prepare proactively for a range of scenarios," Lee said.

Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il convened a roundtable with trade experts Wednesday at Government Complex Seoul to discuss the outlook for the global trade environment and how South Korea should respond. "Uncertainty in the global trade environment continues to mount, driven by the spread of economic nationalism and the strengthening of trade barriers," he said.

The meeting was organized to gather expert views on trade uncertainty stemming from major economies' political calendars and shifting policy stances, and to explore the potential impact on the South Korean economy and possible responses. Attendees included Lee Si-wook, head of economic research at the Korea Chamber of Commerce and Industry; Min Jeong-hun, a professor at the Korea National Diplomatic Academy; and Jeong Cheol, president of the Korea Economic Research Institute.

Participants reviewed, across multiple scenarios, how changes in each country's policy environment could affect trade policy — including tariffs and industrial policy — as well as broader economic relations. They also discussed the potential impact on South Korean companies' exports and investment, and how to respond.

"Changes in the global trade environment are a critical issue that directly affects the competitiveness of our companies and economic growth," Lee said. "The government will closely monitor policy trends in major economies and minimize the trade uncertainty facing our companies through close communication with their governments."

He added that the government would respond promptly to short-term trade issues while also preparing for structural shifts in the global trade order. Lee said the government would strengthen coordination among related ministries and deepen communication with industry and experts, and would boost the economy's capacity to navigate external challenges through export market diversification and expanded economic cooperation with major economies.