Washington: Finance Minister Choi Sang-mok will visit the United States later this week to attend his first round of high-level trade negotiations with the Donald Trump administration and engage in a series of key economic meetings, the finance ministry said Monday. Choi, who doubles as deputy prime minister for economic affairs, will depart for Washington on Tuesday, marking his first visit to the U.S. since President Trump's inauguration in January, the ministry said.
According to Yonhap News Agency, he will be joined by Industry Minister Ahn Duk-geun for what the government earlier called "2+2 trade consultations." The talks will be held Thursday (U.S. time), involving U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative (USTR) Jamieson Greer. South Korea is among the first countries to hold trade negotiations with Washington following the Trump administration's implementation of reciprocal tariffs on all its major trading partners. The country, which heavily depends on exports for economic growth, was hit with a 25 percent tariff, temporarily lowered to 10 percent for a 90-day period.
Choi is also scheduled to attend the Group of 20 (G20) meeting of finance ministers and central bank governors on Wednesday and Thursday, the ministry added. On Friday, he will participate in a meeting of the International Monetary and Financial Committee (IMFC), where global economic trends and the role of the International Monetary Fund (IMF) will be discussed.
Choi is also scheduled to hold bilateral talks with his counterparts from major economies, including China and Germany, as well as senior officials from the European Commission, to exchange views on global economic challenges, the ministry said. Choi will also meet with Marie Diron, global head of Moody's Investors Service, to provide a detailed briefing on South Korea's economic conditions and policy directions, the ministry added.