SEOUL (Reuters) -South Korean President Lee Jae-myung said on Friday that his government would focus on easing regulations and helping companies on trade issues.
His comments were made at a meeting with heads of top conglomerates and other business leaders. He sat between Samsung Electronics Chairman Jay Y. Lee and Hyundai Motor Group Executive Chair Euisun Chung.
SK Group Chairman Chey Tae-won also attended the meeting, according to the president’s office.
The future of South Korea’s export-oriented economy may hinge on what kind of tariff deal Lee can strike with U.S. President Donald Trump, with all of his country’s key sectors from chips to autos and shipbuilding heavily exposed to global trade.
“Companies are currently having difficulties in international competition, and we will focus on minimising the difficulties they are experiencing in international competition and expanding their economic territory,” Lee said at the meeting.
“Please tell us what we should do regarding overseas trade situations, and we will do our best to align with those,” he told the executives.
Lee, a liberal, was elected on June 3 with promises to become business-friendly.
(Reporting by Ju-min Park; Editing by Himani Sarkar and Muralikumar Anantharaman)
