South Korea to pursue coordinated talks with US over tariff dispute

Korea to prepare 'July Package' ahead of tariff suspension deadline

Acting President and Education Minister Lee Ju-ho speaks at the economic security meeting in Seoul at the Seoul Government Complex on Wednesday. (Yohap)

Acting President and Education Minister Lee Ju-ho said Wednesday that South Korea will proceed with calm and coordinated negotiations with the United States regarding tariffs, amid shifting US trade policies that he described as part of a "grave situation."

Speaking at a high-level economic security strategy meeting in Seoul, Lee said the government will push forward discussions with Washington under the leadership of the minister of trade, industry and energy, while engaging all relevant ministries in close coordination.

“The government will work closely across ministries under the responsibility of the minister in charge of trade policy to proceed with discussions with the US in an orderly manner,” Lee said at the meeting convened to assess the current state of Korea-US tariff talks and the government’s overall response system.

“Recent tariff actions driven by changes in US trade policy have created a serious and ongoing situation,” Lee said. Lee emphasized that the government will proceed with the negotiations responsibly, communicating transparently with the National Assembly and the public while putting national interest first.

Lee noted that the South Korean government has already established a consultation framework through the so-called “2+2 trade dialogue” with the US aimed at formulating a “July Package” by July 8, when the current mutual tariff suspension period expires.

The package would outline shared priorities through technical consultations with the US, setting the groundwork for the next Korean administration’s negotiations.

He also confirmed that ministerial-level talks with US counterparts are scheduled to take place on the sidelines of the Asia-Pacific Economic Cooperation trade ministers’ meeting in mid-May.

The Education Ministry also said that US Trade Representative Jamieson Greer is scheduled to visit South Korea next week as part of the APEC meetings, setting the stage for continued ministerial-level engagement between the two nations.

Lee reaffirmed the government's commitment to minimizing public anxiety and potential damage to Korean industries from a volatile trade environment, pledging to continue efforts to protect the country’s economic interests.

Meanwhile, Lee addressed a separate issue involving a delayed nuclear power contract with the Czech Republic. The signing, which had been scheduled for Tuesday, was postponed after French utility company EDF won a court injunction.

“The Czech government has stated that the bidding process has been transparent and lawful,” Lee said. “We will work closely with Czech authorities to resolve legal issues and reach a final agreement as swiftly as possible.”