Seoul: The South Korean government will do its "utmost" to reach a "reasonable" and "fair" tariff agreement with the United States, the industry minister said Monday, vowing efforts to safeguard Korea's economy amid growing uncertainties in global trade.

According to Yonhap News Agency, Industry Minister Kim Jung-kwan emphasized the ongoing discussions with Washington to resolve differences over the specifics of Korea's investment package for the U.S. during the annual parliamentary audit of government organizations. He committed to prioritizing national interests in these negotiations.

Kim highlighted the potential benefits of the tariff deal with the administration of U.S. President Donald Trump, seeing it as a chance for Korea's strategic industries to expand their presence in the U.S. market. Since a framework trade deal was reached in late July, both countries have been negotiating the financing of Korea's planned US$350 billion investment in the U.S. and how to share the resulting profits.

Kim also addressed the challenges posed by U.S.-led trade protectionism and China's control over critical minerals, acknowledging the vulnerability of Korea's export structure due to reliance on certain countries. He stressed the importance of concluding negotiations with the U.S. on the tariff deal while also seeking to strengthen strategic cooperation with the U.S., China, and Japan, and expanding Korea's cooperation network to nations in the Global South.

To revitalize the sluggish economy, the minister outlined plans to integrate artificial intelligence (AI) technologies into manufacturing industries, aiming to boost productivity by 30 percent through the establishment of over 500 AI factories by 2030. Additionally, the government will promote the use of renewable energy and initiate the creation of special industrial complexes fully powered by clean energy sources next year, as stated by the industry ministry.