President Lee: "In tariff negotiations, it's important that we are not at a disadvantage compared to other countries"

President Lee Jae-myung commented on tariff negotiations with the second administration of Donald Trump, stating on the 16th, "The key task is to make sure we do not end up in a more disadvantageous position than other countries." This means he does not intend to allow Korean companies to be forced into global competition under more unfavorable tariff conditions than competitors from other countries.

President Lee spoke with accompanying reporters for about 20 minutes aboard Air Force One (the presidential aircraft) en route to the G7 Summit in Canada, reiterating this stance. He said, "Negotiations are always unpredictable, so it is difficult to make precise decisions," but stressed, "What's important is to ensure that we are not in a more disadvantageous position compared to other countries." He added, "Our businesspeople say that as long as we have the same conditions as companies from other countries, it's the same competition—so it's worth a try. After hearing that, I felt more at ease."

President Lee stated, "Diplomacy shouldn't benefit one side at the expense of the other. We must strive to reach mutually beneficial outcomes that help everyone, and ensure that such results are achieved."

Regarding his diplomatic debut at the G7 Summit just about two weeks after taking office, he said, "It's true that it is somewhat rushed to attend an international conference so soon after my inauguration. Initially, with many domestic issues to address, it was seriously considered not to attend. However, there were also opinions that it was necessary to show the international community that the Republic of Korea had returned to normal operations promptly." He continued, "In the end, I thought that, despite some difficulties, it would be better to engage internationally as early as possible, and that is why I decided to participate at short notice."

He added, "From the perspective of expanding our economic territory, regional expansion is important, but in terms of content, we need to strengthen international cooperation in new industrial fields such as the cultural industry." He stressed, "Going forward, we plan to further strengthen international cooperation at a higher level, including with summit diplomacy, than we have up until now."

Calgary=Jae-Young Han jyhan@hankyung.com