Acting President Han Duck-soo "No comment on presidential candidacy... No retaliation on tariffs"

Source
Korea Economic Daily

Summary

  • Acting President Han Duck-soo stated that he will not retaliate against the US's imposition of tariffs and will seek a 'win-win solution'.
  • He mentioned that in negotiations with the US, LNG and aircraft purchases will be considered, and lowering non-tariff barriers will also be discussed.
  • Acting President Han said he has not yet made a decision regarding his presidential candidacy.

On US tariffs, "Will find a win-win solution"

On presidential candidacy, "Decision not yet made"

Acting President and Prime Minister Han Duck-soo stated that there will be no retaliation against the US's imposition of tariffs. He refrained from making a statement regarding his potential presidential candidacy.

In an interview with the British daily Financial Times (FT) published on the 20th, Acting President Han mentioned, "We will strive to find a way for both sides to 'win-win'." He noted that "the US played a significant role in making Korea what it is today."

He continued, "After the Korean War, the US provided aid, technology transfer, investment, and security guarantees," emphasizing that "this helped make Korea a very comfortable investment environment for foreigners."

Acting President Han stated, "In negotiations, we can discuss ways to reduce the trade surplus with the US, including the purchase of US liquefied natural gas (LNG) and commercial aircraft," adding that "enhancing cooperation in shipbuilding will also help the US strengthen its alliances." FT reported that lowering non-tariff barriers could also be discussed.

He explained that as a result of the negotiations, "some industries may face difficulties," but if trade freedom between the two countries expands, "the benefits for Koreans will also increase."

Regarding the resumption of defense cost-sharing negotiations, it was reported that he hinted at the possibility of renegotiation "depending on the issue."

The Korean government concluded defense cost-sharing negotiations with the former Biden US administration last year, which apply until 2030. However, former US President Donald Trump mentioned in a social media post shortly after a phone call with Acting President Han on the 9th that the defense cost-sharing issue could be discussed in trade negotiations, using the term 'one-stop shopping.'

In response to FT's question about his presidential candidacy, Acting President Han replied, "I have not yet made a decision," and said "no comment."

Reporter Park Subin, Hankyung.com waterbean@hankyung.com

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Korea Economic Daily

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