Choi Sang-mok, acting president, Deputy Prime Minister and Minister of Economy and Finance, said in a foreign media interview, "I sincerely hope to communicate directly with U.S. President Donald Trump," and noted, "If given the opportunity, I plan to emphasize that South Korea's trade surplus with the U.S. is 'temporary.'"
Choi said in an interview with the Wall Street Journal (WSJ), published on the 12th (local time), "There is concern that President Trump’s attention will soon turn to South Korea, one of the largest trade surplus countries in the world."
◇ "If mutual benefits are pursued in trade and economy, it will elevate the South Korea-U.S. alliance"
This was Choi's first foreign media interview since transitioning to the 'acting president' system on Dec. 27 last year. This interview was conducted at the request of the WSJ, and it is reported that the South Korean government deemed it necessary to properly convey its position to the U.S. ahead of trade negotiations.
Choi's mention of a 'temporary trade surplus' is interpreted to emphasize that South Korean corporations have increased exports of intermediate goods while expanding direct investment in the U.S. The WSJ noted, "South Korean conglomerates such as Samsung and Hyundai have invested hundreds of billions of dollars in the U.S. due to incentives provided by the previous Biden administration," adding, "Over the past two years, South Korea has made the most greenfield investments (new facility construction investments) in the U.S."
Choi stated, "To help the revival of the U.S. Navy, South Korea can assist with experts from the shipbuilding industry," and he noted that he plans to emphasize that South Korea has exceeded the U.S. product purchase plan promised during Trump's first administration.
Choi emphasized, "If South Korea and the U.S. pursue a more balanced and mutually beneficial relationship in trade and economy, it can ultimately elevate the South Korea-U.S. alliance," adding, "The South Korean government is fully prepared for this together with the private sector."
Choi remarked, "Considering our historical position and national interests, taking measures that hinder trade expansion would not be beneficial," adding, "Countries like Mexico or Canada are not suitable benchmark targets for South Korea's trade strategy." The newspaper explained that unlike Mexico or Canada, which have significant trade volume with South Korea as neighboring countries, South Korea has relatively low imports from the U.S., meaning it cannot formulate response strategies similar to those countries.
◇ "I haven't had a day off since becoming acting president..." He laughed at the prospect of running for president.
Meanwhile, the WSJ also highlighted his life as an acting president and acting prime minister due to South Korea's unique political situation. The WSJ stated, "Having been the 'third in line,' he is now acting president, acting prime minister, and also retains his position as Deputy Prime Minister and Minister of Economy and Finance, holding three of the country’s top positions," and noted, "He has to sign government documents three times each."
Choi was introduced as having obtained a doctorate in economics from Cornell University and having worked as a public servant for nearly 40 years, finally receiving secret service protection. He mentioned, "Our family’s privacy has completely disappeared."
He said he has not taken a single day off since assuming the acting presidency. The WSJ reported that he primarily orders delivery food, such as spicy soybean paste soup, at his office desk.
The WSJ explained that because a new presidential election must be held within 60 days of the impeachment of President Yoon Suk-yeol, Choi's acting presidency may have only a few months left. When asked about the possibility of running for president in the future, Choi burst into laughter and shook his head, saying, "For the time being, I need to focus on fulfilling my duties."