Deputy Minister Ku Yun-cheol, who also serves as the Minister of Economy and Finance, and Yeo Han-koo, the head of the Ministry of Trade, Industry and Energy's trade negotiations headquarters, will meet with Treasury Secretary Scott Bessent and U.S. Trade Representative (USTR) Jamieson Greer in Washington, D.C., on the 25th (local time) for a "2+2 Treasury and Trade Ministers Meeting."
As the mutual tariff imposition date set by the United States approaches (August 1), observations suggest it will be an opportunity for final negotiations.
In addition to Deputy Minister Ku and Deputy Minister Yeo, Minister of Foreign Affairs Park Jin and Minister of Trade, Industry and Energy Kim Jeong-kwan will visit the U.S. separately to support trade negotiations. Minister Park is expected to meet with National Security Advisor Marco Rubio, while Minister Kim will meet with Secretary of Commerce Howard Lutnick.
Currently visiting the U.S., National Security Office Director Wi Seong-lak will lead a series of negotiations involving four teams.
Deputy Minister Ku, after presiding over a meeting of the External Economic Ministers at the Government Seoul Complex on the 22nd, stated in a brief press conference, "The trade negotiations headquarters chief and I decided to hold a 2+2 meeting with the U.S. Treasury Secretary and USTR representative on the 25th," adding, "The foreign and industry ministers plan to go to the U.S. as soon as possible to persuade the U.S. in their respective meetings with counterparts."
He noted, "There isn't much time left until August 1," and said, "All relevant ministries agreed to meticulously plan and respond thoroughly for the national interest and practical aspects."
The resumption of the Korea-U.S. 2+2 trade discussions comes three months after the end of April. In the April meeting, the representatives for Korea were Deputy Minister Ku and Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy, while the U.S. representatives were Secretary Bessent and Representative Greer. However, for this negotiation, one representative from Korea has changed from the Minister of Trade, Industry and Energy to the Trade Negotiations Headquarters Chief.
In this context, Deputy Minister Ku remarked, "The U.S. requested through the Treasury Secretary and USTR, so we decided to do the same," explaining that the industry minister would meet separately to discuss. This is interpreted as reflecting the consideration for the counterparts in determining the negotiation representatives. Observations suggest that substantial discussions may take place, given that Deputy Minister Yeo and Representative Greer have conducted practical discussions in the field of trade.
The cards that the negotiation team will bring are also noteworthy. Attending the meeting of the External Economic Ministers were Minister of Agriculture, Food and Rural Affairs Song Mi-ryung, the Vice Chairperson of the Fair Trade Commission, and the Vice Minister of the Ministry of Land, Infrastructure and Transport, indicating discussions may have taken place regarding the U.S.-identified non-tariff barriers such as the easing of import regulations on agricultural and livestock products, the export of precision maps, and platform regulations.
Specific negotiation cards have not yet been confirmed. The government has expressed its position that the unique nature of trade negotiations makes public disclosure difficult.
Deputy Minister Ku said, "At the meeting today, we shared perceptions and discussed strategies regarding future responses to negotiations with the U.S.," while also requesting understanding that, "Since the discussion content involves strategy, I cannot provide details."