Washington: Finance Minister Koo Yun-cheol is set to depart for Washington later this week for high-level trade talks with senior U.S. officials, the finance ministry said Wednesday, as the August 1 deadline for tariff negotiations approaches.
According to Yonhap News Agency, Koo will depart Thursday for the U.S. capital, where he will attend "2+2" trade talks scheduled for Friday (local time). The meeting will bring together Koo and Trade Minister Yeo Han-koo, alongside U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer.
The upcoming meeting will mark the first "2+2" dialogue under the Lee Jae Myung administration. The previous round of talks, held in Washington in April, included former Finance Minister Choi Sang-mok and former Industry Minister Ahn Duk-geun, both appointed during the previous Yoon Suk Yeol administration.
The bilateral talks come as Washington is set to impose a 25 percent "reciprocal" tariff on South Korean products starting August 1. This is in addition to existing sector-specific duties, including 25 percent tariffs on all auto and steel imports.
During his two-day trip, the newly appointed finance chief is also scheduled to hold meetings with representatives from major think tanks, including the America First Policy Institute and the Peterson Institute for International Economics, according to the finance ministry.