His ministry announced that South Korea's Minister of Industry Ahn Duk Geun would travel to Washington D.C. between Wednesday and Friday to push for a further exemption from U.S. Steel Tariffs and to discuss ways to increase cooperation in energy and shipsbuilding.

The trip takes place less than one week after the Deputy Trade minister Park Jong Won led the largest South Korean delegation to Washington since the return of President Donald Trump to power. He called on the U.S. Administration to exempt Seoul Steel and Aluminium Tariffs.

Ahn will also meet "key figures" from the U.S. Congress and discuss ways to enhance cooperation in shipbuilding, energy and other areas, according to a statement released by his ministry, without providing any further details.

After Trump announced tariffs of 25% on imports of steel and aluminum, as well as reciprocal duties on trading partners starting in April, the risks of a global trade conflict have become very real for an economy that is heavily dependent on trade.

South Korea's exports fell sharply in January after a 16-month streak of impressive growth. This was due to the uncertainty surrounding U.S. Tariffs and the unfavourable effects on the base. (Reporting and editing by Ed Davies.)

(source: Reuters)