South Korea Will Actively Seek WTO Settlement Of US Trade Barriers: Cheong Wa Dae

South Korea will actively take all available steps, including filing a complaint with the World Trade Organization (WTO), to remove what President Moon Jae-in has called "unfair" restrictions on South Korean exports by the United States, a ranking official from the presidential office Cheong Wa Dae said Tuesday, Yonhap reported

SEOUL,(UrduPoint / Pakistan Point News - 20th Feb, 2018 ) ::South Korea will actively take all available steps, including filing a complaint with the World Trade Organization (WTO), to remove what President Moon Jae-in has called "unfair" restrictions on South Korean exports by the United States, a ranking official from the presidential office Cheong Wa Dae said Tuesday, Yonhap reported.

"Our government will confidently and resolutely deal with any trade issues with our key trading partners, including the United States, in order to ensure our national interest," Hong Jang-pyo, Moon's chief secretary for economic affairs, told a press conference.

The remarks came one day after the president called for such steps to deal with "unfair trade protectionist measures." Washington earlier announced plans to impose anti-dumping tariffs of up to 50 percent on large washing machines and solar cell imports from South Korea.

The US Department of Commerce has also proposed imposing high punitive tariffs on South Korean steel products. Hong said Seoul has already launched the WTO dispute settlement process for the US tariffs on South Korean steel.

Seoul and Washington are currently in discussions to bilaterally settle the issue of US safeguards on washing machines and solar ells, but the country will immediately seek a WTO process should the ongoing negotiations fail, he added.

The move comes despite public concerns over possible damage to the South Korea-US alliance. The Cheong Wa Dae official dismissed such concerns, insisting the US was strictly acting for its economic gain.

"We understand the purpose of the study by the US commerce department is aimed at limiting steel imports to protect the United States' own steel industry. We believe it was based on US economic interests, rather than political or diplomatic perspectives," Hong told reporters.

Seoul will also work with local exporters to help diversify their overseas markets, he said. "The government will establish a close cooperation system with the related companies and do its utmost to help overcome the current difficulty."