Washington: South Korea's new Industry Minister Kim Jung-kwan has vowed to make concerted efforts to reach a trade agreement with the Trump administration. Kim's commitment comes as he arrived in Washington to intensify Seoul's attempts to progress in tariff discussions before the looming August 1 negotiation deadline.
According to Yonhap News Agency, Kim's arrival follows Trade Minister Yeo Han-koo's presence in the U.S. capital for the upcoming "two-plus-two" high-level trade talks scheduled for Friday. These talks will include South Korea's Finance Minister Koo Yun-cheol, U.S. Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer.
The sense of urgency has intensified following U.S. President Donald Trump's announcement of a significant trade deal with Japan. South Korea is keen to secure exemptions or relief from the proposed 25 percent "reciprocal" tariffs and other specific duties set to be implemented on August 1 unless a deal is reached.
Minister Kim affirmed his commitment to the negotiations, stating, "Yes, we will," in response to a reporter's inquiry about his dedication to striking a trade agreement. He emphasized his intent to engage fully in the ongoing tariff negotiations.
When asked about the U.S.-Japan trade deal, Kim refrained from providing an assessment but indicated that South Korea is carefully reviewing the agreement to strategize a forward path. He mentioned the possibility of consulting the deal while comparing it with discussions between Seoul and Washington.
During his U.S. visit, Kim plans to meet with Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum, who also chairs the National Energy Council. Discussions are expected to cover various issues, including South Korea's proposal to collaborate with the U.S. on a "manufacturing renaissance" partnership and cooperation in shipbuilding, semiconductors, and other strategic sectors.