South Korea braces itself for tough US trade talks as liberal party issues caution

SEOUL – South Korea’s acting President Han Duck-soo said on April 21 that he expected trade talks with the United States this week in Washington to be the start of meaningful cooperation, but added that negotiations may not be easy.

Mr Han said that South Korea’s ministers of finance and industry are meeting US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on April 24.

Seoul will make an “all-out effort” to find a mutually beneficial solution by “calmly and seriously” consulting with the US under the principle of prioritising national interest, Mr Han said.

“The consultation process with the US may not be easy and (I am) aware that many expectations and concerns coexist as consultations with the US kick off,” he said at a meeting with South Korean government officials to discuss the economy.

Mr Han said the discussions would focus on trade balances, shipbuilding and liquefied natural gas.

However, US President Donald Trump previously said that

defence cost-sharing would be part of “one-stop shopping” negotiations with Seoul.

Industry Minister Ahn Duk-geun, who will attend the talks with US counterparts, told lawmakers on April 21 that he will relay a request to exempt South Korea from steel and auto tariffs, Yonhap news agency reported, citing lawmakers from Parliament’s trade committee.

Mr Kim Hyun-chong, a foreign policy adviser to South Korea’s presidential front runner Lee Jae-myung, cautioned Mr Han and other Cabinet members on April 21 against hastily negotiating and making significant concessions to the US, warning that it would jeopardise national interests.

Mr Kim, who heads the liberal party’s task force on trade and security, said that the interim government should not be in charge of the negotiations, asserting that no deal is better than a bad deal.

Mr Kim served as South Korea’s trade minister in 2018 when the country renegotiated a free trade deal with the US during Mr Trump’s first term. 

The presidential election will be held on June 3, after the

impeachment of former president Yoon Suk Yeol

for his December martial law declaration. REUTERS