South Korean Finance Minister Koo Yun-cheol has announced plans to negotiate a trade agreement with the United States, ahead of his departure to Washington to meet U.S. Treasury Secretary Scott Bessent. Seoul officials are working to avoid punishing tariffs imposed by the U.S. on South Korea’s key industrial exports to the U.S., which are set to expire on August 1. Koo’s plan to meet Bessent was postponed due to a scheduling conflict with the U.S. treasury chief. He emphasized the importance of a mutually beneficial agreement that would allow South Korea and the U.S. to co-exist. Koo will be joining Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo in discussions with U.S. officials.
South Korea’s Finance Minister Koo plans to pursue a mutually beneficial US trade deal.
