Jin Sung-joon, the policy committee chair of the Democratic Party of Korea, stated on April 3rd that “it is crucial to immediately dismiss President Yoon Seok-yeol and have a new government engage in trade negotiations anew with the United States.” This was in response to the U.S. announcing on April 2nd (local time) its intention to impose high tariffs on South Korea.
In a policy coordination meeting held at the Democratic Party’s temporary headquarters in Gwanghwamun, Seoul, Jin emphasized the need to eliminate the unprecedented uncertainty posed by Yoon Seok-yeol, urging the U.S. to reconsider its reciprocal tariff measures that could trigger a global trade war. He mentioned that experts do not claim South Korea has no negotiating cards and suggested considering the use of dispute resolution procedures through the World Trade Organization (WTO) or leveraging multilateral agreements. However, he admitted that operating under an acting presidential system could present limitations.
Jin criticized Han Duck-soo, the acting president and prime minister, for refusing to meet with the leader of the National Assembly’s largest party, despite claiming to be focused on trade measures. He pointed out that they had not heard of any communication with U.S. President Donald Trump. Jin argued that the ongoing unrest affects not only daily life but also South Korea’s trade and diplomatic stances. He criticized Trump’s expression of imposing high reciprocal tariffs, including a 25% tariff on Korea, as “America’s Liberation Day,” cautioning that it could instead turn into a day of isolation for the U.S.
Jin further expressed concerns about the prolonged unrest and Trump’s trade pressure driving the economic crisis to an extreme, severely impacting small business owners. He announced that the Democratic Party would pursue compensation for losses incurred by small businesses due to the unrest. Jin argued that the government should be responsible for the damages suffered by the public due to the government’s illegal activities. He recalled how the government previously compensated small businesses during the COVID-19 outbreak and criticized the attempt to revitalize the economy with a mere 10 trillion won supplementary budget as insufficient, advocating for a bold budget increase.