Seoul: Prime Minister Kim Min-seok said Tuesday that South Korea protected its agricultural and livestock industries under a recent trade deal with the United States. Kim made the remark during a Cabinet meeting, which he presided over for the first time as President Lee Jae Myung is on his summer vacation.
According to Yonhap News Agency, Kim emphasized that the agreement involved South Korea making a US$350 billion investment pledge and other commitments in exchange for a reduction of U.S. tariffs from 25 percent to 15 percent. He assured that the deal safeguarded key interests of South Korea's agricultural and livestock sectors.
Kim highlighted the significance of the agreement, which was achieved amid challenging conditions, including U.S. pressure to further open South Korea's beef and rice markets. He underscored that the outcome was meaningful for the country's farmers and livestock producers.