South Korean Industry Minister Kim Jung-kwan (L), Trade Minister Yeo Han-koo (C) and U.S. Commerce Secretary Howard Lutnick met in Washington for tariff negotiations, Seoul’s Ministry of Trade, Industry and Energy said Friday. Photo courtesy of South Korea Ministry of Trade, Industry and Energy
South Korea’s top trade negotiators met with U.S. Commerce Secretary Howard Lutnick in Washington, Seoul’s Ministry of Trade, Industry and Energy said Friday, with both sides reaffirming their intention to reach a tariff agreement before an Aug. 1 deadline imposed by the Trump administration.
Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met with Lutnick on Thursday to discuss tariffs and ways to strengthen manufacturing cooperation between the two countries, the ministry said in a statement.
Kim proposed bilateral cooperation in strategic manufacturing sectors, including shipbuilding, semiconductors and batteries, the ministry said. He also stressed the need for tariff relief in individual sectors such as automobiles.
“We will do our utmost to ensure that our companies are not treated unfavorably compared to our competitors,” Kim said.
The trade delegation will “use all its capabilities to reach the best possible result from the perspective of maximizing national interests by August 1,” he added.
During the meeting, the two sides agreed to reach a “mutually beneficial” trade deal before the deadline, the ministry said.
Earlier this month, U.S. President Donald Trump announced a 25% tariff on goods from South Korea, which is set to take effect on Aug. 1.
Kim also met with Energy Secretary Chris Wright on Wednesday to discuss cooperation on clean energy and energy security. He invited Wright to attend the Energy Super Week to be held in Busan at the end of August, the ministry said.
Separately, Yeo held a video meeting with Alabama Gov. Kay Ivey on Wednesday to highlight South Korean investments in the United States.
Kim is scheduled to meet with Secretary of the Interior Doug Burgum during this week’s trip, while Yeo plans to hold meetings with U.S. Trade Representative Jamieson Greer and Texas Gov. Greg Abbott.
Seoul and Washington were scheduled to hold high-level “2+2” trade talks on Friday involving U.S. Treasury Secretary Scott Bessent and Greer and their Korean counterparts, Finance Minister Koo Yun-cheol and Yeo.
However, the meeting was delayed at the last minute due to a scheduling conflict with Bessent, Seoul’s Finance Ministry said on Thursday.
The delay has raised concerns about whether the export-dependent South Korea will be able to strike a tariff deal before the Aug. 1 deadline. Japan and the United States reached an agreement earlier this week to reduce tariffs on Japanese goods from 25% to 15%.
