Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy noted, "This week, practical discussions will proceed in earnest," adding, "During the practical discussions, specific working groups will be determined."
Minister Ahn met with reporters at Incheon International Airport on his return home after completing his schedule in the U.S. on the afternoon of the 26th.
Minister Ahn, along with Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, visited the U.S. on the 24th (local time) to conduct "trade negotiations" regarding tariffs with Treasury Secretary Scott Bae-sent and U.S. Trade Representative Jamieson Greer.
Minister Ahn evaluated the current negotiations, saying, "The first button of the discussions is well fastened," and explained that the U.S. Trade Representative's office, which is responsible for the negotiation, as well as the Treasury Secretary, are also viewing it favorably.
The two countries agreed to continue negotiations until July 8, focusing on four policy areas: tariffs, security, investment, and currency, to discuss the "July Package." Minister Ahn stated that this week, he would confirm the working group and continue discussions on what content to negotiate, including whether tariffs could be suspended.
Minister Ahn said, "The U.S. government seems to be continuing tariff negotiations with a significant number of countries," adding, "While closely monitoring the situation, we plan to proceed with our negotiations in a more calm and prudent manner."
He continued, "It seems that the U.S. government is trying to establish procedures quickly to proceed," adding, "Since we have started the negotiations well, we plan to carefully assess what needs to be considered in the future while proceeding with the remaining negotiations meticulously and calmly."
Regarding the trade balance issue between South Korea and the United States, he stated, "Rather than reducing exports to the U.S., we aim to balance the trade by expanding imports from the U.S.," adding that he has proposed several measures to enhance imports in sectors like energy.
He also noted, "Our major corporations are preparing for investments in the U.S.," stating that the government will actively cooperate in areas such as workforce training and technological collaboration to present a vision for ways that the industries of both countries can achieve a "win-win" situation.