Industry Minister Kim Jung-kwan (right) and US Commerce Secretary Howard Lutnick pose for photos at a meeting held in Washington D.C., Thursday (local time). (Ministry of Trade, Industry and Energy)
Industry Minister Kim Jung-kwan (right) and US Commerce Secretary Howard Lutnick pose for photos at a meeting held in Washington D.C., Thursday (local time). (Ministry of Trade, Industry and Energy)

South Korea's top trade officials, including Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo, are holding relay talks with their counterparts in the US to reach a deal on tariff reductions.

Industry Minister Kim Jung-kwan urged the US administration to ease tariffs on Korean goods in a meeting with US Commerce Secretary Howard Lutnick, according to the Ministry of Trade, Industry and Energy on Friday. The high-level talks lasted for roughly 80 minutes.

During the meeting, Kim outlined measures to deepen bilateral cooperation between Korea and the US in key strategic manufacturing sectors including, shipbuilding, semiconductor and battery, strongly urging the need to ease tariffs.

Kim and Lutnick reaffirmed their commitment to reach a "mutually beneficial resolution" before Aug. 1, the deadline for the tariff negotiations, agreeing to hold further negotiations in the near future, the ministry said.

"We will make every effort to ensure that Korean companies are not disadvantaged compared to their peers,” Kim said.

“Based on the recent talks, we will mobilize all available resources to secure the best possible result in the national interest before Aug. 1.”

The meeting came a day after high-level trade meeting between Korea and the US was abruptly called off Thursday.

With US Treasury Secretary Scott Bessent citing "urgent schedule,” Deputy Prime Minister and Finance Minister Koo Yoon-cheol canceled the trip to Washington while waiting at Incheon International Airport. The postponement has raised concerns as the tariff deadline looms.

Despite the hiccup, Korea’s top trade officials, including Kim, are continuing high-level talks to reach an agreement.

Prior to meeting with Lutnick, Kim met with US Secretary of Energy Chris Wright to discuss ways to strengthen bilateral cooperation in clean energy and energy security. Kim further requested Wright’s attendance at an event set to take place in Busan next month.

Kim is to hold a one-on-one meeting with US National Energy Council Doug Burgum as well.

On Wednesday, Trade Minister Yeo held a virtual meeting with Alabama Gov. Kay Ivey, stressing Korean companies' investments in the US.

Yeo is to further hold separate talks with US Trade Representative Jamieson Greer and Texas Gov. Greg Abbott, discussing tariff negotiations and cooperation in the energy sector.


silverstar@heraldcorp.com