And with fears mounting over a potential trade war,... South Korea's top economic policymaker says Seoul will convey its concerns on the current trade frictions to the United States and other nations at a meeting of G20 nations later this month.
Kim Hyesung has the details.
The Korean government held an emergency meeting Monday to address the rise of protectionist measures coming out of Washington,...including last week's annoncement to take steps to impose a 25 percent tariff on steel imports.

"We are very aware of the recent developments in the overseas trade environment. We will closely examine the possibility of growing conflict in global trade, its impact on Korea's exports and the global economy, and address external risks swiftly."

Korea is the number three steel exporter to the U.S., and trade friction with Washington amid ongoing bilateral trade renegotiations poses a downside risk.
The IMF and the World Trade Organization have raised concerns about Trump's tariffs proposal on steel and aluminum, and major U.S. trading partners like Canada, the EU and China have already responded saying they will consider retaliatory actions, raising fears of a possible trade war.
At the meeting involving ministers of foreign affairs, trade, energy and industry,... and others, finance minister Kim Dong-yeon emphasized the need for government agencies to work together and said Korea will talk to U.S. officials and business groups.

"At the G20 meeting of finance ministers and central bankers in March, we will convey our concerns about the trade frictions with the U.S. and other countries through bilateral meetings."

Kim added the government will work closely with local businesses and focus on a strategy of diversifying the nation's exports and investment, including strengthening trade ties with Southeast Asian countries.
Kim Hyesung, Arirang News.