“External Economic Ministerial Meeting… ‘Prompt Conclusion of Malaysia FTA, Swift Finalization of Thailand CEPA'”
(Seoul = Yonhap News) by Reporter Lee Jung-hoon – Deputy Prime Minister and Minister of Economy and Finance, Koo Yoon-chul, delivered a speech at the External Economic Ministerial Meeting held at the Seoul Government Complex in Jongno-gu on the 2nd of September 2025.
(Sejong = Yonhap News) by Reporter Lee Jun-seo – Deputy Prime Minister and Minister of Economy and Finance, Koo Yoon-chul, announced on the 2nd, “The new government’s ‘New External Economic Strategy’ will be concretized and announced soon.”
In his opening remarks at the External Economic Ministerial Meeting, which he presided over at the Seoul Government Complex that morning, Koo emphasized the upcoming support measures following the US customs negotiations, aiming to actively assist domestic businesses in dealing with tariffs and further strengthen industrial competitiveness.
Koo stressed, “The government will promptly adapt to changes in the world with the attitude of ‘moving with the world’ (여세추이), responding swiftly to uncertainties in the trade environment.”
The meeting included discussions on ▲ Economic outcomes and follow-up measures of the Korea-US summit ▲ Economic outcomes and follow-up measures of the Korea-Japan summit ▲ The progress of ASEAN trade agreements for market diversification.
Regarding the Korea-US summit outcomes, Koo stated, “It has provided a turning point for the development of a ‘future-oriented alliance’ combining economy, security, and cutting-edge technology between the two nations,” and mentioned ongoing discussions to detail the $350 billion finance package for US investments.
He assessed that the Korea-Japan summit achieved results by enhancing economic security communication and solidifying cooperation in future industries such as hydrogen and artificial intelligence (AI).
He also emphasized the necessity of exchange and cooperation with the ASEAN (Association of Southeast Asian Nations) region. Koo said, “Enhancing the network with major ASEAN countries, one of the three largest markets in the world, is essential for supply chain stability and export market diversification,” and declared that the government would promptly finalize the Free Trade Agreement (FTA) with Malaysia and conclude the Comprehensive Economic Partnership Agreement (CEPA) with Thailand swiftly.
In addition, adjustments to the FTA with Singapore will be pursued to reflect changes in the economic and trade environment.