Korea trade ministry convenes 60th trade committee on US issues, India industrial park

South Korea's industry ministry said Thursday it convened the 60th Trade Promotion Committee in Seoul, chaired by Trade Minister Park Jung-sung, to coordinate the government's response to major trade issues with the United States and to advance a follow-up negotiation with China and a dedicated industrial park for Korean companies in India.

The meeting, held at the Korea Productivity Center, brought together officials from related ministries to review response plans on recent US trade matters and to sustain the momentum created by the announcement of a strategic investment project in the United States.

On China, the committee reviewed the status and direction of follow-up negotiations on services and investment under the Korea-China free trade agreement, agreeing to work for substantive results that would improve conditions for Korean companies seeking to enter the Chinese market.

The third agenda item covered plans to build an industrial complex in India dedicated to Korean companies, with officials reviewing cross-ministerial support measures to reflect companies' demand and difficulties on the ground and to equip the park with the conditions the companies need.

"With uncertainty in the global trade environment growing, a strategic response tailored to each market is important," Park said. "Related ministries must cooperate closely so that efforts to strengthen trade and investment cooperation with major countries such as the United States, China and India in various ways, and to broaden the foundation for our companies' overseas expansion, can lead to substantive results."

The Trade Promotion Committee is a cross-ministerial consultative body chaired by the trade minister. Thursday's session was its 60th meeting.