A number of industry insiders are voicing concern over a possible trade war in Northeast Asia over manufactured components and materials.
Gwangju and Jeollanamdo Trade and Commerce Commission of the Korea International Trade Association held its second meeting for this year yesterday with 60 officials from Gwangju-based trade organizations and institutes including Ahn Hyun-ho, a vice-president of the Korea Trade Association.
During his meeting, Ahn stated that the current amicable cooperation in the industry among Korea, Japan and China will soon change into a more competitive one.
He advised that leading up to the trade war in the Northeast Asia, the South Korea should step up efforts to create a more sustainable growth in the component and material sector.
Others issues addressed at the meeting included the introduction of export promotion policies for the second half of this year to encourage exports of local small and medium companies.