Major business groups are stressing continued economic cooperation between South Korea and the United States, while expressing concerns over possible impacts of Donald Trump’s win in the U.S. presidential election on the local economy.

The Korea Chamber of Commerce and Industry(KCCI) said Wednesday that it has high expectations for the U.S.’s role in the recovery of the global economy. The KCCI also expressed hope that economic ties between Seoul and Washington, including their defense and security alliance, will remain solid and strong.

The Federation of Korean Industries(FKI) and the Korea Employers Federation also stressed the two allies need to strengthen cooperation in every sector based on their strong alliance.

The Korean Federation of Small and Medium Business, however, said with Trump's win, the world will likely see a rise in protectionism and a drop in global trade, which are feared to strike a blow to the South Korean economy.