1. The Foreign Ministry, having decided to focus on “supporting overseas operations of Korean companies” in implementing economic diplomacy in 2017, has set three goals and ten main tasks for attaining the goals. All of the Republic of Korea’s overseas diplomatic missions will serve as outposts for economic diplomacy.
2. The three goals and ten main tasks for economic diplomacy in 2017 are:
a) to cope actively with spreading trade protectionism by
- forging mutually beneficial economic ties with the Trump administration of the US
- minimizing negative impact from Brexit negotiations
- responding more actively to import restrictions imposed by foreign governments
- inducing multilateral economic consultative bodies to create an open international economic environment
b) to support bids of Korean companies to build their presence overseas by
- rendering stronger support to companies seeking to win orders overseas
- responding to non-tariff barriers and corporate regulations of China
- expediting the conclusion of economic agreements with emerging countries
c) to seek out new growth engines abroad by
- laying an international foundation for cultivating low-carbon, green-energy industries
- supporting bids for nuclear exports and presence in water and environment sectors overseas
- helping Korean companies build presence in the Arctic region
3. Going forward, the Foreign Ministry will look closely into the progress in the ten aforementioned tasks and work closely with relevant government agencies in the process.
* unofficial translation