Han Duck-soo told a cabinet meeting that he believes this coming Thursday’s talks will set Seoul and Washington up for a mutually beneficial solution.
South Korean Acting President Han Duck-soo expects this week’s trade talks with the United States to set the two nations on course toward a mutually beneficial outcome, he said during a cabinet meeting on Tuesday.
U.S. President Donald Trump imposed reciprocal tariffs of 25 percent on imports from the East Asian nation earlier this month, which he later paused for 90 days.
However, tariffs on the auto and steel sectors remain at 25 percent.
Han said the meeting was scheduled at Washington’s request and will be held in the United States’ capital on April 24.
Ahead of his departure for Washington on Tuesday, South Korean Finance Minister Choi Sang-mok said he aims to come back after “opening the door” to discussions that will strengthen the South Korean–U.S. alliance.
Industry Minister Ahn Duk-geun will also be at the meeting, where the Trump administration will be represented by U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer.
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The negotiations are expected to cover reciprocal tariff exemptions or reductions, as well as duties on cars and steel, Seoul’s industry ministry said in a statement on Tuesday.
“Since the industries of both countries are closely linked, our goal is to negotiate a win-win direction rather than imposing tariffs,” Ahn said.
“We will actively respond by closely consulting with the U.S. government to minimize the impact on our companies.”
The statement added that a specific agenda was being coordinated with the Americans but has yet to be confirmed.
South Korean shares ended flat on Tuesday, as investors remained wary of potential turbulence ahead of negotiations with the United States over trade barriers. The benchmark KOPSI closed down by just 1.78 points, or 0.07 percent, at 2,486.64.
The East Asian country’s economy is vulnerable to any potential trade losses from U.S. tariffs, as much of its earnings come from exporting products worldwide, especially into the U.S. market.
South Korea’s top exports are integrated circuits, automobiles and parts, refined petroleum, and passenger and cargo ships, according to a report from the Observatory of Economic Complexity.
Han said on Monday that the consultation process with the United States “may not be easy.”
Trump has said that sharing the cost of keeping U.S. troops in South Korea would be part of “one-stop shopping” negotiations with Seoul, which South Korean officials have said is not up for negotiation.
However, they have said cooperation on shipbuilding is a “very important card” the country holds and that participation in a gas project in Alaska could form part of the package.
Han “signalled a willingness, depending on the issues, to reopen a cost-sharing deal” in an interview with the Financial Times, and said he “will not fight back” against Trump’s tariffs due to the deep historic debt South Korea owes the United States.
He told the paper that “the role of the U.S. was huge in making Korea what it is now.”
Han took the post of acting president after Yoon Suk Yeol was removed from office this month by the country’s constitutional court following an alleged attempted coup last year.
Yoon had issued a surprise late-night declaration of martial law that he said was needed in part to root out “anti-state” elements.
He lifted the decree six hours later after parliamentary staffers barricaded themselves inside the parliament using sofas to block special operations soldiers who broke windows as they tried to enter the chamber, where lawmakers voted to reject martial law.
A general election is due to be held on June 3 to find a permanent replacement for Yoon, who is still facing a criminal trial on insurrection charges, which carry a maximum sentence of death or life imprisonment.
Yoon denies that the martial law decree was an attempted coup d’etat.
