This seminar was organized to explore the direction of Korea’s foreign economic policy in response to the increasing global uncertainty caused by exclusive protectionism.

In his congratulatory remarks, First Vice Minister Beom-seok Kim of MOEF diagnosed the escalating global trade tensions—including tariff hikes imposed under the new U.S. administration and the escalating U.S.-China hegemonic competition—as a period of “hyper-uncertainty.” He emphasized that this uncertainty should be used as an opportunity to foster future growth engines.

President Siwook Lee of KIEP defined the current era as a “Great Transformation” in his opening speech and pledged to develop new international economic strategies and identify policy tasks to effectively respond to global uncertainties.

Jong Duk Kim, Executive Director of the International Trade, Investment and Economic Security Department at KIEP, presented key challenges to Korea’s foreign economic policy, including heightened supply chain uncertainties following the inauguration of the new U.S. administration, rapid shifts in the global investment environment, and intensifying global competition.

Participants engaged in candid discussions on diagnosing the current global economic landscape, outlining future directions for Korea’s international economic policy, and responding to key U.S.-China policy trends. In particular, they reached a consensus on the need for country-specific external strategies as U.S. policies become more concrete, also agreeing on the heightened importance of developing trade risk strategies for both the U.S. and China.

- Title: MOEF-KIEP Joint Policy Seminar

- Topic: Korea's International Economic Policy Direction in an Era of Hyper-Uncertainty and Great Transformation

- Date & Time: Wednesday, February 12, 2025, 08:30-14:00

- Venue: Westin Josun Hotel, Seoul

- Hosts: Ministry of Economy and Finance (MOEF), Korea Institute for International Economic Policy (KIEP)

- Contact: Ha Young Kil, Senior Research Assistant, International Trade, Investment and Economic Security Department (hykil@kiep.go.kr)