“Yoon and Trump Start Off Well… Proactively Managing Economic Issues”
Cho Hyun-dong, the Ambassador to the U.S., participated in a correspondent meeting at the Korean Embassy in the U.S. on the 25th, stating, “Our government prioritizes the continuous development of the best Korea-U.S. alliance, regardless of changes in the U.S. administration.” He added, “Even after the inauguration of the Trump administration’s second term, we will continue to strengthen the alliance.” Regarding the phone call between President Yoon Suk-yeol and U.S. President-elect Donald Trump on the 6th, Cho said, “Beyond the customary congratulations, they exchanged views on substantial cooperation areas such as North Korea, successfully setting the stage.” Cho emphasized that Korea and the U.S. would closely consult to maintain and strengthen extended deterrence (nuclear umbrella) and the combined defense posture.
During the meeting, Cho also mentioned, “We are closely monitoring the selection trends of key personnel who will be active in the Trump 2nd administration and swiftly identifying domestic and international policy trends to prepare response measures.” He noted, “We have been communicating with senior Republican members, such as Michael Waltz, the nominee for National Security Advisor, who is known to be close to Trump, based on various networks between Korea and the U.S. to prepare for the Trump 2.0 era.” Cho had previously engaged with Waltz during the Republican National Convention in Milwaukee in July and met with Senate members, including Lisa Murkowski, post-election. He also attended a roundtable organized by the U.S. Association of Former Members of Congress (FMC), meeting with members of both the Republican and Democratic parties.
Cho explained, “The security environment on the Korean Peninsula has drastically changed from Trump’s first term, with serious security implications from North Korea’s military cooperation with Russia, increasing North Korean threats against South Korea, and the possibility of significant provocations during the administration transition.” Thus, the importance of the Korea-U.S. alliance has heightened. During Trump’s second term, significant changes in diplomatic, security, and economic relations between the two countries are anticipated. On the 15th, Cho convened representatives of Korean companies and public institutions in Washington to urge close public-private cooperation. He stated, “We intend to proactively manage foreseeable economic issues such as tariffs, the Inflation Reduction Act (IRA), and the Semiconductor Act, creating favorable conditions for our companies.” He emphasized reminding the U.S. political circles about the importance of maintaining a stable investment environment, noting that Korean firms ranked first in U.S. investments last year.