1. The Foreign Ministry held a meeting on economic issues in North America at the Embassy of the Republic of Korea in the US on February 10. The purpose of the meeting was to seek ways to support Korean companies operating in North America amid the possibility of renegotiations on the North American FTA (NAFTA) and other rapid changes in economic and trade policies of the US in the wake of the launch of the Trump administration.

2. At the meeting chaired by Deputy Foreign Minister for Economic Affairs Lee Tae-ho, deputy heads of the 17 Embassies and Consulates-General of the ROK in the US, Canada and Mexico decided to set up “help desks” at their missions to render assistance to Korean companies amid the possibility of renegotiations over NAFTA.

3. The Embassies and Consulates-General of the ROK in the US also decided to systematically and jointly carry out outreach activities toward the US in a bid to provide the administration, Congress, state governments and economic think tanks of the US with information on positive effects of the KORUS (Korea-US FTA); and to broaden relevant networks through invitation programs for opinion leaders at economic think tanks and others of the US.

4. The meeting covered economic and trade policies of the US; measures taken by Canada and Mexico over the possibility of renegotiations on NAFTA; global trends in trade protectionism; and ways for the diplomatic missions to render support to Korean companies under the current circumstance, including through close cooperation among the diplomatic missions accredited to the NAFTA countries.


* unofficial translation