Gyeongju: Prime Minister Kim Min-seok stated that South Korea, Japan, and other Asian countries can collaborate to address the evolving trade landscape amid significant global economic uncertainties.

According to Yonhap News Agency, Kim emphasized the significance of regional cooperation during a forum hosted by The Korea Herald, highlighting that Asian countries collectively contribute to nearly half of the world’s GDP. He pointed out the economic slowdown, geopolitical tensions, global supply chain realignment, and rapid changes in trade order as part of a broader “wave” of challenges, which also include AI advancements and a major energy transition.

Prime Minister Kim stressed that these crises cannot be surmounted by individual nations alone. He expressed confidence that Asian countries, including South Korea and Japan, can jointly tackle the multifaceted crises affecting the trade order. Kim highlighted South Korea’s existing free trade agreements with countries such as China, India, and Vietnam and mentioned ongoing FTA negotiations with other Asian nations.

He also discussed the resumption of negotiations for a trilateral FTA involving South Korea, China, and Japan, alongside South Korea’s consideration of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Kim noted the upcoming Asia-Pacific Economic Cooperation summit in Gyeongju, where South Korea intends to present its future vision for AI, aiming to ensure that advanced technologies drive global innovation and prosperity.