Prime Minister Kim says Korea and U.S. 'stronger' by cooperating

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Prime Minister Kim says Korea and U.S. 'stronger' by cooperating

Published: 22 Jul. 2025, 19:02 Updated: 22 Jul. 2025, 19:53

MICHAEL LEE
[email protected]

Audio report: written by reporters, read by AI

Prime Minister Kim Min-seok, left, shakes hands with acting U.S. Ambassador Joseph Yun, right, at a seminar hosted by the American Chamber of Commerce (Amcham) in Korea at the Conrad Hotel in Yeouido, western Seoul, on July 22. Amcham chair and CEO James Kim stands in the middle. [YONHAP]

Prime Minister Kim Min-seok outlined the Korean government’s plans to reposition the country’s economy and redefine its alliance with the United States as he called for a “zero-point shift” in how the two nations cooperate in a speech on Tuesday.

Speaking at a seminar hosted by the American Chamber of Commerce in Korea (Amcham), Kim provided insight into President Lee Jae Myung’s economic vision, which centers on innovation, strategic industry development and stronger international partnerships — particularly with Washington.

“Korea–U.S. relations now stand on a new foundation beyond the frameworks of the past,” Kim said, emphasizing the shift from a primarily security-oriented alliance to what he termed a “value-based partnership” rooted in shared democratic ideals and economic interests.

While acknowledging the logic behind U.S. President Donald Trump’s tariffs and protectionist trade policies, Kim argued that the United States “will become stronger if it works in cooperation with Korea.” Referencing Trump’s campaign slogan, he added that such cooperation could help “make Korea and the United States great again.”

Kim, who studied law in the United States, further noted that the two countries share a common legal and democratic tradition, pushing back on criticism on his alleged anti-U.S. activism. “Our peoples share a common understanding and commitment to constitutional law,” he said.

On tariffs, the prime minister struck a reassuring tone, saying “there is still a lot of time left” for the two countries to find a resolution before the Trump-imposed deadline of Aug. 1.

Prime Minister Kim Min-seok delivers the keynote speech of a seminar hosted by the American Chamber of Commerce in Korea in Yeouido, western Seoul, on July 22. [YONHAP]

The prime minister also outlined the Lee administration’s focus on five emerging sectors — artificial intelligence, biotechnology, content and culture, defense and energy — collectively known as the “ABCDE” industries.

He said these fields are expected to drive Korea’s next phase of economic growth and will be developed through a “pragmatic approach” involving foreign investment, regulatory reform and expanded global cooperation.

That strategy, he said, will rely heavily on collaboration with global companies, with the United States playing a “central role” in Korea’s economic roadmap. Kim framed ongoing discussions as a pivotal opportunity for the allies to engage in new thinking and greater coordination to navigate global tensions and restructure their supply chains.

Tuesday’s Amcham seminar, titled “Policy Shifts and the Role of Business under the New Administration,” brought together more than 140 participants from government, industry and academia.

In his remarks, acting U.S. Ambassador to Korea Joseph Yun reaffirmed Washington’s commitment to an “ironclad alliance” with Seoul.

However, he noted that the projected U.S. fiscal deficit of $1.8 trillion and Washington’s annual defense spending of $1 trillion have made it necessary for the United States to ask its allies to shoulder more responsibility for their own security.

James Kim, chairman and CEO of Amcham Korea, said Korea and the United States have “tremendous opportunities to deepen bilateral cooperation and advance shared economic goals,” particularly during the ongoing tariff negotiations.

However, he also called for changes to “Korea’s unique regulations” to “foster a more balanced and sustainable trade environment.”

BY MICHAEL LEE [[email protected]]