Yeo Han-koo, head of the Office of the Minister for Trade at the Ministry of Trade, Industry and Resources, said on the 12th that the U.S. Trade Representative (USTR)'s launch of a Section 301 investigation under U.S. trade law "aims to restore tariff levels to before the U.S. Supreme Court's 'ruling that the tariff was unlawful.'"
The Deputy Minister held an emergency background briefing that day on the Section 301 investigation and said, "This investigation is not targeting Korea but is a probe into structural factors across 16 countries," and stated accordingly.
Earlier, President Donald Trump, after a Supreme Court ruling on the 20th of last month that tariff collection under the International Emergency Economic Powers Act (IEEPA) was unlawful, held a press conference that day and said he would impose a 10% tariff on all trading partners worldwide under Section 122 of the Trade Act.
The Deputy Minister said, "The U.S. government's goal is to preserve and maintain as much as possible the trade deal previously agreed to," adding, "The officially agreed tariff rate between Korea and the United States is 15%, and we will do our best to consult with the USTR and the Department of Commerce so that this balance can be maintained."
To a question about whether this investigation is related to the government's probe into Coupang over a personal data leak, the response drew a line, saying, "It is not related at all."
The Deputy Minister said, "The Section 301 investigation is focused on overcapacity in the manufacturing sector," adding, "In last week's consultations with USTR Representative Jamieson Greer, the government strongly conveyed the position that 'the Coupang matter is an individual corporation's data leak issue, and it is not appropriate to launch a Section 301 investigation based on a matter that is being fairly investigated according to law and procedure.'"
He went on to say, "The government will work closely with the U.S. side to ensure that the balance of benefits under the existing Korea-U.S. tariff agreement is not undermined and that the conditions for our corporations' exports to the United States are not disadvantaged compared with major countries."