https://www.scmp.com/rss/523952/feed Kim Jung-Kwan is the nominated Minister for Industry of South Korea, bringing extensive experience from both the public and private sectors. Formerly CEO of Doosan Enerbility, he previously held key roles at the Ministry of Economy and Finance, the Bank of Korea, and the World Bank. His background includes expertise in economic policy and a significant focus on energy, including nuclear power and renewable sources. He is expected to drive South Korea’s industrial growth and implement a balanced... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Park Chan-kyong Park Chan-kyong South Korea is bracing for prolonged US tariff pressure after last week’s emergency talks in Washington failed to yield a breakthrough, exposing the growing uncertainty that has come to define trade ties under US President Donald Trump. Korean Trade Minister Kim Jung-kwan returned home empty-handed on Sunday after two rounds of meetings with US Commerce Secretary Howard Lutnick, fuelling concern in Seoul that negotiations could drag on until the US midterm elections later this year. Trump... https://www.scmp.com/week-asia/politics/article/3342130/tariff-pain-looms-south-korea-after-us-talks-hit-deadlock?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3342130/tariff-pain-looms-south-korea-after-us-talks-hit-deadlock?utm_source=rss_feed Tue, 03 Feb 2026 00:00:12 +0000 Park Chan-kyong Park Chan-kyong US President Donald Trump’s announcement that he will reinstate 25 per cent tariffs on South Korea is less indicative of a sudden rupture in relations but more an attempt to reassert leverage over an ally ahead of a critical US Supreme Court ruling, analysts say. Trump has accused South Korea of failing to follow through on a bilateral trade deal, reviving trade tensions between two close allies and prompting Seoul to seek urgent talks with Washington. The timing also reflected Trump’s mounting... https://www.scmp.com/week-asia/economics/article/3341385/trump-pressuring-south-korea-lock-deal-us-court-can-strike-down-tariffs?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3341385/trump-pressuring-south-korea-lock-deal-us-court-can-strike-down-tariffs?utm_source=rss_feed Tue, 27 Jan 2026 07:47:23 +0000 Yeon Woo Lee Yeon Woo Lee China and South Korea have reignited their economic cooperation after years of relatively muted ties, signing US$44 million in new export deals and dozens of memorandums of understanding (MOUs) in the wake of a high-level summit held amid shifting regional dynamics – most notably, a protracted diplomatic dispute between Beijing and Tokyo. South Korea hosted its first export promotion and investment attraction event in Beijing in nine years, according to its Ministry of Trade, Industry and... https://www.scmp.com/economy/china-economy/article/3338983/china-south-korea-sign-us44-million-trade-deals-after-years-friction?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338983/china-south-korea-sign-us44-million-trade-deals-after-years-friction?utm_source=rss_feed Wed, 07 Jan 2026 03:00:09 +0000 Yeon Woo Lee Yeon Woo Lee In a bid to overhaul their economic relationship, China and South Korea are reviving long-stalled trade talks, with an eye on moving beyond factory floors to target the lucrative services sector as geopolitical shifts redraw the region’s alliances. The thaw follows a December 12 agreement between Minister of Commerce Wang Wentao and South Korean Minister of Trade, Industry and Energy Kim Jung-kwan to accelerate negotiations on the second phase of their free-trade agreement (FTA). The push aims... https://www.scmp.com/economy/global-economy/article/3337086/blackpink-ayumi-why-china-may-reward-south-koreas-soft-stance-amid-japan-tensions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3337086/blackpink-ayumi-why-china-may-reward-south-koreas-soft-stance-amid-japan-tensions?utm_source=rss_feed Mon, 22 Dec 2025 02:00:09 +0000 Ji Siqi Ji Siqi As Beijing continues advocating for deeper regional economic cooperation in East Asia amid ongoing tensions with Washington – including by working towards a free-trade agreement (FTA) with Japan and South Korea – analysts say that making substantial progress remains challenging, given the existing trade framework and conflicting interests. In a meeting with South Korean Minister of Trade, Industry and Energy Kim Jung-kwan on Saturday on the sidelines of the Asia-Pacific Economic Cooperation... https://www.scmp.com/economy/global-economy/article/3331365/beijing-pushes-china-japan-south-korea-trade-pact-amid-us-tensions-hurdles-remain?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3331365/beijing-pushes-china-japan-south-korea-trade-pact-amid-us-tensions-hurdles-remain?utm_source=rss_feed Tue, 04 Nov 2025 01:00:15 +0000 Park Chan-kyong Park Chan-kyong Despite weeks of frantic diplomacy, the chances of South Korea and the United States sealing a trade deal before next week’s Apec summit appear to be slim, with strong domestic backing enabling Seoul to resist a compromise seen as perilous to the national economy. Under a framework agreement reached in July, US President Donald Trump’s administration offered to cut tariffs on South Korean imports from 25 per cent to 15 per cent – but only if Seoul committed US$350 billion in investments into... https://www.scmp.com/week-asia/economics/article/3330214/south-korea-us-trade-talks-chances-deal-slim-apec-nears-seoul-stand-firm?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3330214/south-korea-us-trade-talks-chances-deal-slim-apec-nears-seoul-stand-firm?utm_source=rss_feed Sat, 25 Oct 2025 01:30:11 +0000 Park Chan-kyong Park Chan-kyong Top Seoul officials are visiting Washington amid signs of major progress in tough trade negotiations, although analysts warn that a coerced deal could severely damage South Korea’s economy. Kim Yong-bum, policy chief of the presidential staff, and Industry Minister Kim Jung-kwan left for Washington on Thursday to join Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo. The delegation plans to meet US counterparts to finalise details of South Korea’s US$350 billion investment... https://www.scmp.com/week-asia/economics/article/3329211/south-korea-us-edge-closer-us350-billion-trade-deal-breakthrough-gap-has-narrowed?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3329211/south-korea-us-edge-closer-us350-billion-trade-deal-breakthrough-gap-has-narrowed?utm_source=rss_feed Thu, 16 Oct 2025 05:50:35 +0000 Reuters Reuters South Korea’s industry minister said on Monday that the government had expressed concerns over Hyundai announcing multibillion-dollar US investment plans at the same time as Seoul was involved in delicate trade negotiations with Washington. “We told Hyundai that [its] conduct was deeply regrettable, especially considering that our efforts have been made for the sake of Hyundai and Kia’s industry,” South Korea’s Industry Minister Kim Jung-kwan told parliament in response to questions. “I believe... https://www.scmp.com/news/asia/east-asia/article/3328870/south-korea-says-it-flagged-concerns-over-hyundais-us-investment-plan?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3328870/south-korea-says-it-flagged-concerns-over-hyundais-us-investment-plan?utm_source=rss_feed Mon, 13 Oct 2025 17:02:41 +0000