Washington: South Korea and the United States will engage in "2+2" trade talks involving their finance and trade ministers on Thursday, as announced by acting President Han Duck-soo. This marks the first round of high-level negotiations aimed at easing U.S. tariffs.
According to Yonhap News Agency, the meeting is scheduled for 8 a.m. local time in Washington, or 9 p.m. in South Korea. The discussions will see the participation of South Korea's Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun, alongside U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. Han conveyed this information during a government meeting on Monday.
Following the main talks, Ahn and Greer are set to hold separate discussions. Han emphasized the importance of finding a mutually beneficial solution through calm and serious discussions with the U.S., focusing on key areas such as trade balance, shipbuilding, and liquefied natural gas, which were also topics in a recent phone call with U.S. President Donald Trump.
Han acknowledged the complexities of the consultation process with the U.S., highlighting both the expectations and concerns surrounding the negotiations. He stated that the Republic of Korea has historically turned crises into opportunities, contributing to its growth and prosperity. The government is preparing measures to minimize business challenges during negotiations and will closely observe the trade negotiations of other significant U.S. partners, like the European Union and Japan.
Further, Han underscored the necessity for cooperation from all sectors, including government, businesses, the public, the press, and political entities, to ensure the success of the negotiations. Later on Monday, Ahn is scheduled to visit the National Assembly to brief lawmakers on the negotiation schedule and details. Han called for bipartisan support, emphasizing national interest.