Deputy Minister Park Jong-won, who led the first major South Korean government delegation to visit Washington since U.S. President Donald Trump announced sweeping tariffs, argued that almost all tariffs between the two countries have already been eliminated under their free trade agreement.
Park highlighted investments in the United States by South Korean companies and proposed holding high-level meetings with the Trump administration to discuss further cooperation, the ministry said.
“In the future, the government will continue to consult at a high level on U.S. trade and trade measures, and will respond to minimize damage to Korean companies through close communication with the industry,“ the ministry’s statement said.
On Friday, Choi ordered authorities to reach out to the U.S. more actively to seek cooperation and monitor response measures being taken by others, such as the European Union, Japan and China.
“Given their substantial role in supporting US economic objectives, we think Korea and Japan are in a strong position to seek tariff exemptions,“ Standard Chartered economists said in note, citing the more than 20,000 U.S. jobs South Korea contributed in 2023, more than any other country.
South Korea's industry minister on Friday met with the acting U.S. ambassador in Seoul and said policies affecting trade and investment between the two countries should remain consistent and stable.
Choi, who took over after both Yoon and the prime minister were impeached, has yet to speak directly with Trump.
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