Trade Chief Yeo Han-koo: "No Need to Overreact to Reports of Trump Administration's Final Ultimatum"

"Full-Fledged Trade Talks with the U.S. Begin"

On June 12, Yeo Han-koo, Chief Negotiator for Trade at the Ministry of Trade, Industry and Energy, stated, "Since the new administration has launched with a democratic mandate, we will now fully pursue Korea-U.S. trade negotiations as strategic negotiations focused on national interests."

At a press conference following his inauguration ceremony that day, Yeo said, "Although working-level negotiations have been ongoing, we are now entering a phase where we will draft a new blueprint on a larger scale."

He emphasized, "Trade negotiations will establish a new framework for cooperation across all sectors?industry, energy, investment, and trade?for the next five years in Korea and four years in the United States." He added, "We will move beyond the current temporary system and expand and reorganize the task force at the level of all government ministries." To this end, he is considering promoting the task force leader to the rank of first grade, and the appointments will be finalized and announced soon.

Regarding foreign media reports suggesting that the Trump administration is nearing final offers to various countries, Yeo drew a line, saying, "Breaking news emerges almost daily in Washington. There is no need to be swayed by every development." He explained, "We have already requested contact with the U.S. side and will soon meet in person to begin full-scale negotiations." However, he added, "The United States is currently negotiating with 18 countries simultaneously, and with multilateral summits such as the G7 scheduled for next week, the specific timetable is still being coordinated."

On the July 6 deadline set for the so-called "July package" agreement, he said, "Both Korea and the United States are facing a trade environment where high uncertainty has become the new normal. What matters is to negotiate in good faith." He added, "Negotiations are often decided in the final days, and there is still ample time to catch up from now."

When asked about recent calls for cooperation with Japan and joining the CPTPP, he clarified, "Those were remarks I made in a private capacity while at a Washington think tank." He added, "However, the need for strategic cooperation between Korea and Japan remains unchanged."

Regarding concerns that the United States might demand excessive concessions by leveraging Korea's security dependence, he emphasized, "It is not only Korea that needs the United States; the United States also needs Korea." He stressed, "We must creatively design mutually beneficial solutions so that the negotiations will be politically acceptable in both countries."

This content was produced with the assistance of AI translation services.