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Wi Sung-rak, South Korea’s national security advisor, shakes hands with U.S. Secretary of State and National Security Advisor Marco Rubio during a security consultation in Washington, D.C., on July 7. / Source: Presidential Office

Following a letter from U.S. President Donald Trump announcing plans to impose 25% reciprocal tariffs starting August 1, Kim Yong-beom, policy chief at the presidential office, convened an emergency meeting with relevant ministries on July 8 to discuss countermeasures.

“We have avoided an immediate tariff hike and secured time until the end of July,” Kim said during the meeting. “We must fully prepare for negotiations with the United States, putting national interest first.”

Kim added, “The market has fortunately remained calm so far, but we must closely monitor the economic impact, especially on exports. Ensure support measures for affected sectors like automobiles and steel are implemented without delay, and strengthen strategies to diversify export markets.”

Reflecting on recent diplomatic efforts, Kim noted, “In the month since the new administration took office, we’ve made every effort to achieve mutually beneficial outcomes through bilateral and multilateral meetings such as trade and security consultations with the U.S. and the NATO summit. However, time was too short to reach a comprehensive final agreement covering all pending issues.”

He reiterated, “Swift negotiations are important, but upholding national interest is even more crucial.”

The presidential office also announced plans to hold a joint meeting between the policy office and the National Security Office once National Security Advisor Wi Sung-rak returns from his trip to Washington, D.C., where he met with U.S. Secretary of State and National Security Advisor Marco Rubio on July 7.

The emergency meeting was attended by Prime Minister’s Office Chief Yoon Chang-ryul, Senior Secretary for Economic Growth Ha Joon-kyung, Deputy National Security Advisor Oh Hyun-joo, First Vice Minister of Economy and Finance Lee Hyung-il, Second Vice Minister of Foreign Affairs Kim Jin-ah, and First Vice Minister of Trade, Industry and Energy Moon Shin-hak.