Emergency Response Team for Trade Issues in the Maritime Logistics Sector to Respond to the Rapidly Changing Trade Environment

MOF to hold the first meeting of the joint Emergency Response Team for Trade Issues in the Maritime Logistics Sector formed with experts from the public-private-research sectors

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced that it will launch the Emergency Response Team for Trade Issues in the Maritime Logistics Sector on Wednesday, April 16 to respond proactively to the rapidly changing global trade environment, including the US government's tariff imposition and the US Trade Representative's (USTR) announcement of sanctions against China.

 Trade conditions constantly fluctuate, with repeated suspensions of US tariff imposition and retaliatory tariff measures from China and other major economies. Accordingly, MOF has formed the Emergency Response Team for Trade Issues in the Maritime Logistics Sector with participation from the public, private, and research sectors to share the relevant information quickly and seek response directions among the relevant organizations. It will hold its first meeting on April 16.

 At this meeting, MOF plans to assess the impact of recent trade measures on the shipping industry, examine the current challenges in domestic import/export logistics and port operations, and discuss the necessary response measures with the relevant organizations.

 “As the recent uncertainty in the trade environment poses a major threat to Korea’s export-driven economy, securing the stability of the shipping industry—which is responsible for 99.7% of exports and imports—has become more critical than ever. Accordingly, we will proactively manage risks arising from evolving trade conditions in the shipping sector through the joint public-private-research response team,” Minister Kang Do-hyung said.