Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol stated as he headed to the U.S. for negotiations, "I will do my best to prepare a negotiation plan that can benefit both Korea and the U.S. in terms of national interests."
On the 29th, Deputy Prime Minister Koo spoke with reporters at the departure hall of Incheon Airport, stating, "I will explain well the programs Korea is preparing and its situation, and I will ensure that we collaborate in sectors where we can cooperate with the U.S. shipbuilding industry in the medium to long term."
He is scheduled to meet with U.S. Treasury Secretary Scott Bessent in Washington, D.C., on the 31st (local time). Their talks are expected to be a final coordination for trade discussions between the two countries. On the same day, Minister of Foreign Affairs Chung Eui-yong will also meet with Secretary of State Marco Rubio to lend support to the negotiations.
Earlier, the U.S. sent a letter informing Korea that it would impose a 25% tariff starting from August 1. The European Union (EU) and Japan, both competing nations in exports to the U.S., have already set their tariff rates at 15%, indicating that if the negotiations fail, Korea's exports to the U.S. could suffer significantly.
Deputy Prime Minister Koo expressed, "I will thoroughly understand the local situation with Minister of Trade Kim Jeong-kwan and Chief of Trade Negotiation Yeo Han-koo, and respond comprehensively."
Currently, Minister Kim and Deputy Minister Yeo are closely following U.S. Secretary of Commerce Howard Lutnick and are fully committed to the negotiations.
The two met with Secretary Lutnick on the 24th and 25th to conduct two rounds of negotiations, and afterwards visited Scotland with Secretary Lutnick, who was accompanying U.S. President Donald Trump.
Minister Kim and Deputy Minister Yeo are reported to have held negotiations in Scotland with Secretary Lutnick and U.S. Trade Representative Jamieson Greer.
On the 28th, Secretary Lutnick noted, "Korean officials came to Scotland to meet with me and Representative Greer," adding, "Korea genuinely wants to reach a negotiation settlement."
Currently, Secretary Lutnick is reported to have returned to the U.S. from Scotland. Minister Kim and Deputy Minister Yeo are also said to have moved to the U.S. to continue negotiations with Secretary Lutnick.
It is reported that they plan to meet with Secretary Lutnick and Representative Greer of the USTR as many times as possible before the deadline for the tariff imposition exemption ends, in an effort to bridge any discrepancies.