Deputy Prime Minister and Minister of Economy and Finance Ku Yoon-chul will depart on the 24th to negotiate tariffs with the United States.
The Ministry of Economy and Finance noted on the 23rd that Deputy Prime Minister Ku will visit the U.S. the following day to attend the "Korea-U.S. 2+2 trade consultation" in Washington, D.C. As representatives from Korea, Deputy Prime Minister Ku and Deputy Minister Yeo Han-koo will participate in the negotiations; Deputy Minister Yeo departed on the 21st.
The U.S. participants in the 2+2 trade consultation are Minister Scott Bessent of the Treasury Department and Jamieson Greer, the U.S. Trade Representative. The consultations are set for the 25th.
Noteworthy is that Deputy Minister of International Finance Choi Ji-young and Foreign Currency Fund Manager Jeong Yeo-jin, responsible for exchange rates within the Ministry of Economy and Finance, will accompany the Deputy Prime Minister on this trip. This is interpreted as a precautionary measure in case the U.S. raises exchange rate concerns.
After the conclusion of the External Economic Ministers' Meeting held at the Government Seoul Complex the day before, Deputy Prime Minister Ku told reporters, "There isn't much time left until the negotiation deadline of August 1." He added, "All relevant departments have agreed to respond collectively and meticulously plan for national interests and practical concerns."
Before attending the 2+2 trade consultation, Deputy Prime Minister Ku is scheduled to meet with key think tanks in Washington, D.C., including the America First Policy Institute and the Peter G. Peterson Institute for International Economics on the 24th. The America First Policy Institute is a research institute established in 2021 focused on the America First agenda promoted by President Donald Trump. Deputy Prime Minister Ku plans to discuss the recent global economic situation and the direction of Korea-U.S. cooperation with the institute.