Latest news with #PetersonInstitute
Free Malaysia Today
3 hours ago
- Business
- Free Malaysia Today
South Korea appoints ex-trade chief Yeo Han-koo as new trade minister
Yeo Han-koo was the trade chief between August 2021 and early 2022 during left-leaning president Moon Jae-in's administration. (EPA Images pic) SEOUL : South Korea appointed former chief trade envoy Yeo Han-koo as its top trade negotiator, the president's office said today, as Asia's fourth largest economy prepares for negotiations with Washington to reduce the tariffs. The US imposed 25% levies on South Korea on April 2, one of the highest tariffs for a US ally, though they have been suspended until early July. Cutting tariffs is a top policy priority for South Korea's new President Lee Jae-myung after a leadership vacuum in recent months helped delay talks between Seoul and Washington. The president also appointed statistics agency chief Lee Hyoung-il as first vice finance minister to lead the ministry until a finance minister is formally appointed, Lee's spokesman Kang Yu-jung said. Sectoral tariffs have hurt South Korea's key industries, including cars, aluminium and steel. Yeo was the trade chief between August 2021 and early 2022 during left-leaning president Moon Jae-in's administration and was involved in Korea-US talks under the first Trump administration. While serving as commercial attache at the Korean Embassy in Washington, he was involved in amendment negotiations of the Korea-US Free Trade Agreement and Section 232 steel negotiations in 2017. For the past two years Yeo has been a senior fellow at the Peterson Institute for International Economics.
Bloomberg
5 hours ago
- Business
- Bloomberg
South Korea Appoints Yeo as Trade Minister to Lead Talks With US
South Korean President Lee Jae-myung appointed Yeo Han-koo, a seasoned trade negotiator, as the new trade minister to guide the country through ongoing tariff talks with the US. Currently a senior fellow at the Peterson Institute for International Economics in Washington, Yeo previously served as South Korea's trade minister in 2022 during the final year of the Moon Jae-in administration. With 30 years of public service, Yeo holds an MBA from Harvard Business School.
Korea Herald
5 hours ago
- Business
- Korea Herald
Veteran negotiator tapped to lead Korea's trade talks with US
President Lee Jae-myung has appointed Yeo Han-koo, a senior fellow at the Peterson Institute for International Economics and a former trade minister, as the nation's chief trade negotiator, the presidential office announced Tuesday. Yeo, who previously held the same post under the liberal Moon Jae-in administration, returns to lead high-stakes negotiations with the United States over looming tariffs. 'Yeo previously served as director-general for trade policy at the Trade Ministry during the first Trump administration, where he oversaw Korea's overall trade strategy,' Presidential Spokesperson Kang Yu-jung said in announcing the appointment. 'He is widely recognized for his exceptional policy planning and negotiation skills, particularly in navigating international trade and economic cooperation.' Kang added that Yeo is expected to play 'a pivotal role' in strengthening Korea's economic diplomacy at a time of rising global trade tensions, including the intensifying US-China rivalry and ongoing tariff negotiations. Yeo began his public service career after passing the 36th National Civil Service Exam and has since taken part in numerous bilateral and multilateral trade negotiations. His portfolio includes serving as chief negotiator for the Regional Comprehensive Economic Partnership, the Korea-UK Free Trade Agreement, the Korea-Central America Free Trade Agreement, the Korea-Indonesia Comprehensive Economic Partnership Agreement, and the Korea-Philippines Free Trade Agreement. He was also one of the original participants in the development of the Indo-Pacific Economic Framework for Prosperity. The veteran trade official served as trade minister from August 2021 to May 2022 under the Moon administration. Since June 2023, he has been a senior fellow at the Peterson Institute, where he focused on international economic policy. Known for his expertise in policy coordination and his strong network among US government and congressional figures, Yeo is expected to play a key role in navigating Korea through upcoming negotiations with Washington. Yeo holds an MBA from Harvard Business School and an MPA from the Harvard Kennedy School. He earned his bachelor's degree in business administration from Seoul National University.
Reuters
5 hours ago
- Business
- Reuters
South Korea appoints ex-trade chief Yeo Han-koo as new trade minister
SEOUL, June 10 (Reuters) - South Korea appointed former chief trade envoy Yeo Han-koo as its top trade negotiator, the president's office said on Tuesday, as Asia's fourth largest economy prepares for negotiations with Washington to reduce the tariffs. The U.S. imposed 25% levies on South Korea on April 2, one of the highest tariffs for a U.S. ally, though they have been suspended until early July. Cutting tariffs is a top policy priority for South Korea's new President Lee Jae-myung after a leadership vacuum in recent months helped delay talks between Seoul and Washington. The president also appointed statistics agency chief Lee Hyoung-il as first vice finance minister to lead the ministry until a finance minister is formally appointed, Lee's spokesperson Kang Yu-jung said. Sectoral tariffs have hurt South Korea's key industries including cars, aluminium and steel. Yeo was trade chief between August 2021 and early 2022 during left-leaning President Moon Jae-in's administration and was involved in Korea-U.S. talks under the first Trump administration. While serving as commercial attache at the Korean Embassy in Washington, he was involved in amendment negotiations of the Korea-U.S. Free Trade Agreement and Section 232 steel negotiations in 2017. For the past two years Yeo has been a senior fellow at the Peterson Institute for International Economics.
Bloomberg
4 days ago
- Business
- Bloomberg
What to Expect From US, China Trade Talks Monday?
Mary Lovely, Senior Fellow at the Peterson Institute for International Economics, shares her thoughts on what to expect Monday as US and Chinese negotiators will resume trade talks in London. She also talks about the Trump tariffs and the impact the tariffs may have on the labor market if trade talks between the US and China do not go well. Mary Lovely speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's 'Balance of Power.' (Source: Bloomberg)
