With three days remaining before the deadline for the reciprocal tariff that the United States has announced, our government has a key bargaining chip: 'shipbuilding.' The South Korean shipbuilding industry has been assessed as competitive, to the extent that U.S. President Donald Trump has steadily demanded technology transfers since he took office. While Japan and the European Union (EU) have reduced reciprocal tariffs through large-scale investments in the U.S., our country, with a smaller economy than these nations, is launching an all-out effort to use the shipbuilding industry as a springboard for lowering tariffs on items such as automobiles.
According to the Presidential office on the 28th, President Lee Jae-myung received a report on the results of trade consultations with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer from Minister of Trade, Industry, and Energy Kim Jeong-kwan, who is abroad, and Deputy Minister Yeo Han-koo. Spokesperson Kang Yoo-jeong noted, 'The discussions were conducted under the agreement of both countries to advance discussions on various issues, including the 'shipbuilding cooperation' proposed during two rounds of Korea-U.S. ministerial meetings held in Washington, D.C., and New York.'
After receiving updates on the negotiation situation, President Lee urged, 'Please do your best for the national interest until the end.' According to diplomatic sources, Minister Kim and Deputy Minister Yeo, who were in the U.S., left for Europe to create additional negotiation opportunities with Secretary Lutnick. Secretary Lutnick is currently in Scotland for trade negotiations with the EU and departed on the 26th (local time). Notably, it is reported that Secretary Lutnick will not attend the U.S.-China trade negotiations scheduled for two days starting on the 28th of this month, indicating that additional Korea-U.S. negotiations may take place in Europe.
President Trump is also currently staying in Scotland. If an agreement is reached between the two countries' ministers while there, it could lead to a decision from Trump, the 'ultimate decision-maker' in the negotiations. Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol will depart on the 29th to meet with U.S. Treasury Secretary Scott Bessent for consultations on the 31st (local time). This negotiation comes a day before the deadline for the tariffs proposed by Trump. It is expected that issues such as Korea-U.S. 'shipbuilding cooperation,' tariffs on automobiles, expanded imports of U.S. rice, and the import of U.S. beef aged over 30 months will be addressed as a 'package.'
Earlier, on the 25th (local time), the government proposed the 'shipbuilding cooperation project' while negotiating at Secretary Lutnick's residence in New York and is said to have elicited a positive response from him. Policy Chief Kim Yong-beom also reported during a briefing on the 26th that the U.S. side has shown high interest in South Korea's shipbuilding sector. He stated, 'The South Korean government confirmed the high interest of the U.S. side in the shipbuilding sector and agreed to make proposals for mutual agreements that include cooperation between the two countries, including shipbuilding.'