Next week, Deputy Prime Minister and Ministry of Economy and Finance (Ministry of Economy and Finance) Minister Choi Sang-mok and Ministry of Trade, Industry and Energy (Ministry of Trade, Industry and Energy) Minister Ahn Duk-geun will participate in the '2+2 U.S.-Korea Finance and Trade Ministers Meeting,' which has been officially named 'consultation' rather than 'negotiation.' A government official explained that this reflects the significance of confirming mutual interests rather than the narrow meaning of 'negotiation,' which involves matching and exchanging the cards brought by each country one by one. There is an interpretation that the South Korean government's intention to approach carefully has been reflected, rather than the 'one-stop shopping' (swift and comprehensive negotiation) mentioned by U.S. President Donald Trump.
The Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy announced through a media notice on the 20th, stating, 'We plan to have a 2+2 trade consultation in Washington next week,' adding, 'Deputy Prime Minister Choi and Minister Ahn will represent our side, while U.S. Treasury Secretary Scott Vessen and U.S. Trade Representative Jamieson Greer will attend.' The two ministries revealed that this meeting was initiated 'at the suggestion of the U.S. side.' They added that detailed schedules and agendas are 'currently being coordinated with the U.S. side.'
The proposal for a 2+2 format that includes the finance and trade ministers of both countries for trade talks appears to reflect President Trump's determination to produce results as quickly as possible.
In response, our side is maintaining a cautious attitude by limiting the nature of this meeting to 'consultation' rather than 'negotiation.' In this regard, a Ministry of Economy and Finance official stated, 'Procedurally, to negotiate with a foreign country, plans must be organized according to the trade treaty law and reported to the National Assembly, followed by a public hearing.' They emphasized that this meeting is merely a venue to hear the interests of both countries and that it is inappropriate to call it a 'negotiation' in terms of content.
'Negotiation' and 'consultation' have significant differences in trade talks. An official from the Ministry of Trade, Industry and Energy stated, 'To be called a negotiation, the goals and agenda must be clear. There must also be specific details regarding the adjustments between the two countries.' They added, 'Currently, the framework for tariff discussions and the detailed agenda between South Korea and the U.S. have not been set. It is more appropriate to refer to it as a consultation rather than a negotiation.'
A trade law specialist stated, 'Negotiation involves having a clear sense of purpose, such as a free trade agreement (FTA) or the Indo-Pacific Economic Framework (IPEF).' They explained, 'In situations where core issues are not established, the term negotiation is not used. When the intention is to exchange opinions on current issues, the term 'consultation' is used as a diplomatic convention.'
The government has started reviewing its response strategy by weighing the cards the U.S. side hopes to bring and the cards our side can present ahead of next week's 2+2 meeting.
The goal is to lower reciprocal tariffs and item-specific tariffs on key industries such as semiconductors, automobiles, and steel for South Korea as much as possible, while reportedly basing this framework on not being dragged along by the timetable set by the U.S. It is also reported that options were reviewed for how to respond in case unexpected events occur, such as when President Trump held a surprise meeting with Japanese Economic Revitalization Minister Akaba and Ryosei at the White House.
Minister Ahn Duk-geun stated on KBS Sunday Diagnosis in the morning, 'We plan to make every effort to eliminate tariffs on our main export products, including automobiles and semiconductors.'
Minister Ahn stated, 'Rather than hastily concluding trade negotiations, there are matters to clarify, and I will continue discussions to resolve them in a mutually favorable manner,' adding, 'Just solving everything now will not bring the situation to rest, so it is important to keep the framework of negotiations going.'
When asked if something unexpected like President Trump suddenly appearing could happen, Minister Ahn responded, 'I am also considering that possibility, and we are preparing for such a scenario.'