South Korea’s government expressed concern about the “significant” impact on its economy likely to stem from US policy changes under Donald Trump and will seek talks with the US president to discuss cooperation as soon as possible.

The government plans to provide 360 trillion won, or $247.74 billion, worth of policy financing to exporting companies through state-run banks and institutions this year

South Korea announced a record 360 trillion won ($247.74 billion) in policy financing for exporters to counter potential challenges posed by new U.S. trade policies under President Donald Trumps second term.