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Key Points

South Korea's Industry Minister Ahn Duk-geun recently met with US lawmakers in Seoul to address concerns regarding the negative impact of US tariffs on energy cooperation between the two countries. During the closed-door meeting, Ahn emphasized the importance of minimizing these impacts to ensure a robust bilateral relationship, especially in the industrial and energy sectors. The meeting also touched on expanding South Korea's energy purchases from the US to balance trade. As part of ongoing discussions, a South Korean delegation is scheduled to attend the Alaska Sustainable Energy Conference to further explore cooperative opportunities.

Key Points: South Korea's Ahn Duk-geun Urges US Lawmakers on Tariff Impact

  • Ahn Duk-geun emphasizes energy cooperation in talks with US lawmakers
  • Concerns grow over US tariffs affecting South Korea's energy sector
  • Seoul aims to expand US energy purchases amid tariff concerns
2 min read

Seoul minister urges minimal impact of US tariffs on energy cooperation

Ahn Duk-geun urges minimal US tariff impact on energy cooperation in key talks with US lawmakers.

"To ensure stable investment by Korean companies in the U.S., it is essential that policy continuity is guaranteed. - Ahn Duk-geun"

Seoul, May 30

South Korean Industry Minister Ahn Duk-geun on Friday met visiting US lawmakers and urged measures to minimise negative impacts on bilateral cooperation in energy and supply chains from Washington's tariff scheme, his office said.

Ahn held talks with Rep. Bruce Westerman (R-AR), chair of the committee; Rep. Nick Begich (R-Alaska); Rep. Harriet Hageman (R-WY); Rep. Celeste Maloy (R-UT); and Rep. Sarah Elfreth (D-MD) in a closed-door meeting in Seoul, according to the Ministry of Trade, Industry and Energy.

The lawmakers are members of the Committee of Natural Resources in the U.S. House of Representatives, reports Yonhap news agency.

In the meeting, Ahn called for U.S. lawmakers' efforts to prevent the U.S. tariff measures from negatively affecting the two countries' collaboration in the industrial and energy sectors amid global supply chain uncertainties.

Ahn also proposed strengthening energy cooperation to address trade imbalance and energy security issues, according to the ministry.

Amid ongoing trade negotiations with Washington, Seoul has been considering expanding energy purchases from the United States to reduce its trade surplus with Washington. South Korea has been subject to 25 percent reciprocal tariffs from the U.S. since early April, though the duties have been suspended for 90 days.

The ministry plans to send a delegation, led by Deputy Minister for Energy Policy Lee Ho-hyeon, to the Alaska Sustainable Energy Conference next week to discuss bilateral cooperation in an Alaskan liquefied natural gas project, as well as nuclear power plants and renewable energies.

"To ensure stable investment by Korean companies in the U.S., it is essential that policy continuity is guaranteed, such as maintaining tax incentives under the Inflation Reduction Act (IRA) or equivalent support," Ahn told the lawmakers, according to the ministry.

—IANS

- IANS

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Reader Comments

R
Rajesh K.
Interesting to see how South Korea is navigating US trade policies. India should take notes - we also need to balance our energy imports and exports strategically. Maybe we can learn from their approach to maintain good relations while protecting national interests. 🇮🇳
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Priya M.
The US tariffs game continues... First it was China, now South Korea. India should be careful about becoming too dependent on any single country for energy needs. Diversification is key - just like our thali, we need balanced sources! 😄
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Amit S.
While this Korea-US energy cooperation is important, I wish our media would focus more on India's own energy partnerships with neighbors like Bangladesh and Nepal. Those directly affect our daily lives and electricity bills!
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Sunita R.
Nuclear power cooperation mentioned here is interesting. India has made great progress in nuclear energy - we should share our expertise with friendly countries while ensuring our own energy security comes first. Jai Vigyan! ✨
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Vikram J.
The trade imbalance discussion reminds me of India's situation. We import so much oil and gas - need to focus more on renewable energy like solar where we have advantage. At least we don't have 25% tariffs like Korea is facing!

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