South Korea’s acting president, Han Duck-Soo, announced on Monday that top finance and trade officials will hold high-level trade negotiations in Washington this week to address the looming U.S. tariffs threatened under Donald Trump’s administration.
The country is a major exporter of giants such as Samsung Electronics and automaker Hyundai. The talks aim to shield against severe financial repercussions if the proposed tariffs are imposed.
Han revealed that, “During a phone call with President Donald Trump on the eighth, we agreed to hold constructive discussions on economic cooperation, including the trade balance between South Korea and the United States, through ministerial-level meetings,” said acting president Han Duck-soo.
Finance Minister Choi Sang-mok and Trade and Industry Minister Ahn Duk-geun are set to meet US Treasury Secretary Bessent and Trade Representative Jamieson Greer on Thursday to “mark a meaningful starting point for future cooperation”.
Speaking at a government task force meeting, Han said, “The government will pursue these talks calmly and earnestly, under the principle of placing the national interest above all else, to find mutually beneficial solutions.” He laid emphasis on the fact that the talks will be centred around “trade balance, shipbuilding, and LNG (liquified natural gas)
“We are fully aware that these negotiations with Washington will not be easy and understand the mixed expectations and concerns surrounding them,” said Han.
“However, the Republic of Korea has overcome past crises and turned challenges into opportunities thanks to the unity of its people, the foundation of our growth and prosperity today,” he added.
Seoul last week announced plans to invest almost $5 billion extra in the country’s semiconductor industry, citing “growing uncertainty” over US tariffs.
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