Seoul: The presidential office announced it will hold a trade strategy meeting on Friday following the unexpected cancellation of high-level trade consultations with the United States. This development surprised South Korea as it came just before the August 1 tariff deadline.
According to Yonhap News Agency, the meeting will be led by Kang Hoon-sik, the presidential chief of staff, and will include key officials such as Kim Yong-beom, the presidential chief of staff for policy, and Wi Sung-lac, the National Security Adviser. Additionally, Finance Minister Koo Yun-cheol and Yoon Chang-ryeol, the head of the Office for Government Policy Coordination, are expected to participate.
The officials are anticipated to deliberate on strategies for future negotiations following the cancellation of the "2+2" high-level trade consultations with Washington. Initially set for Friday, these talks were suddenly called off. The South Korean government attributed the postponement to a scheduling conflict involving U.S. Treasury Secretary Scott Bessent and assured that the meeting would be rescheduled soon. However, some observers have expressed concerns about potential hurdles in the negotiations.