South Korea to approach trade talks with US 'cautiously', industry minister says
FILE PHOTO: South Korea’s Minister of Trade, Industry and Energy Ahn Duk-geun speaks during a meeting with U.S. Commerce Secretary Gina Raiimondo and Japan’s Economy, Trade and Industry Minister Ken Saito as part of an inaugural Trilateral Commerce and Industry Ministerial Meeting at the Commerce Department in Washington, U.S., June 26, 2024. REUTERS/Nathan Howard/File Photo
SEOUL :South Korea's Industry Minister Ahn Duk-geun said on Saturday that Seoul plans to approach trade talks with the United States "calmly and cautiously."
The negotiations were off to a good start but South Korea will closely monitor the progress in trade talks between the U.S. and other countries, Ahn told reporters after returning from Washington.
"This (coming) week, working-level talks will kick off during which a specific working group will be confirmed," Ahn said.
Seoul plans to continue consultations with the U.S. until early July to secure tariff exemptions, he added.
South Korea and the U.S. agreed after the first round of trade talks in Washington to craft a package of deals aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July.
Ahn and Finance Minister Choi Sang-mok met U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer in Washington on Thursday.
The meeting was "productive" and both sides agreed on the importance of achieving expedient and meaningful progress toward reciprocal and balanced trade between the two countries, Greer's office said in a statement on Friday.
