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Trade minister to visit U.S. to continue follow-up talks on trade deal

Published: 15 Sep. 2025, 11:34 Updated: 15 Sep. 2025, 17:46

Trade Minister Yeo Han-koo is seen before departing from Incheon International Airport to the United States on Sept. 15. [YONHAP]

Korean Trade Minister Yeo Han-koo is set to depart for the United States on Monday to hold follow-up negotiations on a trade deal stuck between the two countries in late July, Yeo's office said.

The trip comes just a day after Industry Minister Kim Jung-kwan returned to Seoul after holding separate trade talks with U.S. Commerce Secretary Howard Lutnick in Washington.

Yeo is expected to meet with U.S. Trade Representative Jamieson Greer and other trade officials to discuss the details of the bilateral framework trade agreement reached July 30, under which Washington agreed to lower the reciprocal tariff rate for Korea to 15 percent from the initially proposed 25 percent.

The United States has also agreed to cut tariffs on Korean cars to 15 percent from the current 25 percent.

The two sides are reportedly working to bridge their differences over the details of a $350 billion investment package Seoul pledged in return for tariff cuts, such as its financing methods and profit-sharing arrangements.

Seoul officials have said the planned investment will mostly comprise loans and credit guarantees, while the United States is reportedly demanding it be made in the form of direct investment.

Yonhap