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Ahn discusses post-U.S. election strategy with car, battery firms

November 13, 2024

Industry Minister Ahn Duk-geun on Wednesday held meetings with automobile and battery manufacturers to discuss export strategies following Donald Trump’s victory in the recent U.S. presidential election.

During the two separate meetings, Ahn emphasized the need for a swift response to anticipated U.S. policy changes, noting that automobiles and batteries account for a combined 16 percent of South Korea’s exports, according to the Ministry of Trade, Industry and Energy.

Industry leaders urged the government to strengthen economic ties with Washington, pointing out the significant contributions South Korean firms have made to the U.S. economy, particularly in supply chains and job creation.

On Sunday, President Yoon Suk Yeol called for the establishment of finance, trade and industry consultative bodies to prepare for potential impacts from Trump’s return to the White House, underscoring the importance of close coordination with domestic businesses.

The ministry said it plans to hold similar meetings with shipbuilders, steelmakers and semiconductor companies in the near future to prepare for possible changes in the U.S. trade environment.