South Korea Appoints Yeo Han-koo as Trade Minister Amid US Tariff Talks

South Korea has appointed Yeo Han-koo as its new trade minister to lead negotiations with the United States aimed at reducing the 25% tariffs imposed on South Korean goods, which are among the highest tariffs levied on a U.S. ally. Yeo, a seasoned trade negotiator with experience from the Moon Jae-in administration and a senior fellow at the Peterson Institute for International Economics, is expected to guide South Korea through complex tariff discussions under President Lee Jae-myung's administration. Yeo emphasized the importance of South Korea and Japan cooperating to address U.S. tariff policies, particularly in the automobile sector, and suggested joint efforts in talent training and technology development in shipbuilding to compete effectively. He also proposed the formation of a consultative body including the U.S., Korea, and Taiwan to manage shared risks in projects like the Alaska LNG business. Highlighting the strategic alignment of economic interests between South Korea and Japan amid challenges such as China's steel oversupply, Yeo called for higher-level economic cooperation beyond existing frameworks like RCEP. This appointment reflects South Korea's broader strategy to navigate trade challenges and enhance economic cooperation in the region.