Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol said on the 1st related to the Korea-U.S. trade negotiations, "It felt like a war," adding, "With the negotiation plan established this time, we aim to develop concrete strategies and respond proactively during the details of negotiations with the United States."
Deputy Prime Minister Koo returned to Korea through Incheon Airport after completing his schedule in the U.S. He met with reporters at Incheon Airport and emphasized, "The devil is in the details, but I think the angel is also in the details," saying, "I will do my best to ensure that Korea and the U.S. can achieve economic cooperation that allows for a win-win situation."
After the negotiations, Deputy Prime Minister Koo drew the line regarding continued mentions of the opening of the Korean rice market by the U.S. side, stating, "There were no discussions at all regarding rice." He added, "We need to check what the announced matters from the U.S. mean."
Regarding the $350 billion investment that Korea is making in the U.S., he stated, "$150 billion is strategically invested in the shipbuilding sector, and I will make sure to manage how we approach it strategically," while adding, "$200 billion is in the area of security strategy, which includes fields where Korea has competitiveness such as semiconductors, batteries, energy, bio, and pharmaceuticals."
Kim Jeong-gwan, Minister of Trade, Industry and Energy, who returned with Deputy Prime Minister Koo, also emphasized that the negotiation process was not smooth. Minister Kim noted, "I really felt the saying 'It feels like blood is being drained,'" adding, "When talking with U.S. Secretary of Commerce Howard Lutnick, if he says something unfavorable to him, he would try to get up from his seat saying, 'Let's just do a 25% tariff,' and there was a process of us holding him back."
Yeo Han-koo, Chief Trade Negotiator of the Ministry of Trade, Industry and Energy, said, "This is a truly different new normal era compared to the Trump administration's first term," adding, "We have managed to get through this crisis well, but we cannot be assured that tariffs or non-tariff pressures will come in at any moment in the future."