On February 28, Minister of Foreign Affairs Cho Tae-yeol appointed the members of the fourth Advisory Committee on Economic Security and Diplomacy, comprised of 16 industry, academia, and experts in various fields, including customs, semiconductors, energy, and key minerals, who will serve for the next two years.

Minister Cho Tae-yeol emphasized the severe situation of increasing uncertainty in the economic, security, and diplomatic environment and asked the advisory board members to make generous policy recommendations.

Following the appointment ceremony, the first meeting of the 2025 Advisory Council was held. Vice Minister Kang In-sun referred to various policies announced by the United States since the inauguration of the new Trump administration, and explained that the Korean government is actively communicating with the United States through various channels to effectively respond to them.

Vice Minister Kang emphasized that it is important to respond as a one-team by uniting our internal and external capabilities more firmly in times of uncertainty, and expressed his expectation that the U.S. will generously provide advice on the direction of economic security diplomacy at the U.S. and global levels.

Following a presentation by the Center for Economic Security Diplomacy at the Ministry of Foreign Affairs on the details of policies announced by the new U.S. administration, including tariffs and investments, the participants discussed public-private partnerships to strengthen economic security response capabilities in areas such as trade, investment, supply chain, and technology.

The advisory committee members, including Heo Yoon, emphasized the importance of closely monitoring the rapidly changing policies and legislation in major countries such as the U.S. and China and preparing a systematic response posture. They also agreed that this process will require not only inter-ministerial collaboration but also active communication with industry and academia, and called on the Ministry of Foreign Affairs to play a pivotal role as an external window. In addition, the ministry will actively propose policy demands and sector-specific analyses from the industry so that the public and private sectors can respond to the new economic and security environment as a team.

Amid growing uncertainties in economic security diplomacy, the Ministry of Foreign Affairs will continue to listen to the voices of the industry and the views of private experts through the newly reorganized Economic Security Advisory Committee and continue to strengthen the economic security diplomacy capabilities of the Korean government and the public-private partnership.

[News Source: Ministry of Foreign Affairs]