Seoul: Trade Minister Yeo Han-koo met with major petrochemical companies Tuesday to discuss possible responses to trade barriers put in place by major economies, such as import regulations and non-tariff measures, Yeo's office said.

According to Yonhap News Agency, the meeting focused on strengthening cooperation between the government and the private sector to help Korean companies navigate investigation procedures amid major economies' push for petrochemical import regulations. The discussions also centered on identifying non-tariff trade barriers imposed by other countries through regular government reports and advocating for their removal or improvement.

Additionally, the talks explored creating new business opportunities for the petrochemical sector by pursuing free trade agreements with emerging economies like Bangladesh and Pakistan. Yeo also shared insights from his recent meeting with the European Commission, where discussions included the EU's trade regulations in the steel and battery sectors and the forthcoming carbon border adjustment mechanism.

Yeo emphasized the dual challenges faced by the petrochemical industry, noting its internal business restructuring and external trade pressures. He assured that the government would maintain close communication with companies and proactively support their efforts to enhance export conditions, diversify markets, and bolster future competitiveness.