December 7, 2018 / 2:06 AM / 7 months ago

S.Korea's Moon says free-trade basis threatened by protectionism

SEOUL, Dec 7 (Reuters) - South Korean President Moon Jae-in said on Friday the basis for global free trade was under threat from protectionism and trade disputes among major countries, and he vowed to seek more free trade deals.

“Increasing exports and overall trade is very important for the sustained development of our economy,” Moon said in a speech commemorating the country’s trade day.

“However, the basis for world free trade is now threatened by trade protectionism in major countries and trade disputes,” he said, apparently referring to the China-U.S. trade war.

He said the government would soon unveil support measures for South Korea’s auto parts industry, which has been suffering from slowing growth in the country’s automobile exports. (Reporting by Choonsik Yoo; editing by Darren Schuettler)

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