Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Seoul to maintain communications with Washington over USTR probe on forced labor-linked imports – Full Analysis.
Published: 13 Mar. 2026, 19:14
Industry Minister Kim Jung-kwan speaks at the Korea Trade Insurance Corporation in Jongno District, central Seoul, on March 13. [YONHAP]
The government announced Friday it will continue close consultations with the United States to protect Korea’s national interests after Washington opened new investigations into Korea and 59 other economies over imports of goods produced with alleged forced labor.
The Ministry of Trade, Industry and Resources announced that the government will closely communicate with its U.S. counterparts under the principle of ensuring that the balance in profits from its trade deal with the United States is secured and that Korea is treated no less favorably than other major countries.
The ministry’s statement came after the Office of the U.S. Trade Representative (USTR) said it has initiated probes into 60 economies, including Korea, China and Japan, under Section 301 of the 1974 Trade Act to determine whether their governments have taken sufficient steps to ban the importation of goods produced with forced labor.
The announcement came just a day after the USTR opened a separate trade inquiry into Korea and 15 other economies to uncover what it called “unfair” trade practices related to structural excess capacity and production, also under Section 301.
On Thursday, Korean Trade Minister Yeo Han-koo told reporters the USTR’s move appears to be aimed at restoring trade-related measures it had imposed on partners before the U.S. Supreme Court struck down U.S. President Donald Trump’s “reciprocal” tariffs.
Korea had faced 15 percent reciprocal duties before last month’s ruling. It currently faces a 10 percent global tariff that was imposed by Washington to replace the reciprocal duties.
Yonhap