Minister of Foreign Affairs Cho Tae-yul appointed the members of the fourth Advisory Committee on Economic Security and Foreign Affairs on February 28. The committee consists of 16 representatives from industrial and academic circles as well as experts from various sectors including tariffs, semiconductors, energy and critical minerals, who will serve a two-year term.

Minister Cho emphasized the growing uncertainty in the economic security and foreign affairs landscape and asked the advisers to provide insightful policy recommendations.

Following the appointment ceremony, the first Advisory Committee meeting of the year 2025 was convened. Vice Minister Kang Insun referred to policies announced by the United States following the inauguration of the new Trump administration. She explained that the Korean government is actively engaging with the U.S. through various channels to effectively respond to these developments.

Vice Minister Kang stressed that it is important for Korea to consolidate government and private-sector capabilities to respond to high uncertainties in a unified manner. She also expressed her hope that the advisers would provide valuable guidance on Korea’s economic security and foreign affairs strategy not only in relation to the U.S. but also on a broader global scale.

During the meeting, the Foreign Ministry’s Center for Economic Security and Foreign Affairs delivered a presentation on details of the U.S. administration’s policies on tariffs and investment, followed by discussions among participants on ways to enhance economic security cooperation between the public and private sectors across various fields, including trade, investment, supply chains and technology.

Chairman Heo Yoon and other members of the Advisory Committee emphasized the importance of closely monitoring rapidly evolving policies and legislative trends of late in major economies such as the U.S. and China, and setting a systematic response strategy. They agreed that this process calls for not only government-wide collaboration but also active communication with industrial and academic circles. On that note, the advisers asked the Ministry of Foreign Affairs to play a pivotal role as Korea’s communication channel with the international community. Furthermore, they expressed their commitment to providing expert recommendations based on industry needs and sector-specific analyses, to facilitate a unified public-private response to the new economic security environment.

Amid the increasing uncertainty in economic security and foreign affairs, the Ministry of Foreign Affairs will continue to gather views of the industrial sector and private-sector experts through the newly restructured Advisory Committee on Economic Security and Foreign Affairs, while seeking to strengthen whole-of-government and public-private collaboration efforts in economic security.