Koo Yooncheol Arrives in U.S.: "South Korea-U.S. Trade Talks Being Coordinated at a Rapid Pace"

Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol hinted at the possibility of a trade agreement between South Korea and the United States, stating that "the two sides are continuing to coordinate at a rapid pace."

On the 15th (local time), Koo made these remarks to reporters immediately after arriving at Dulles International Airport near Washington, D.C. When asked whether the bilateral negotiations had entered the final coordination stage, he replied, "We are continuing to coordinate at a rapid pace."

Regarding U.S. Treasury Secretary Scott Besant's earlier comment that "the trade negotiations with South Korea are being finalized and details are being coordinated," Koo stated, "I saw the related reports on the plane. I will confirm it directly when we meet."

On the key issue of the $350 billion U.S. investment package between South Korea and the United States, he explained, "Discussions are ongoing." When asked whether the United States was insisting on a blank-check style investment, he responded, "I'm not sure about that, but we have provided sufficient explanations, and both Secretary Besant and Secretary of Commerce Howard Lutnick understand our position."

Yonhap News Agency

Regarding concerns that a safety net is needed for the foreign exchange market as the Korean government raises a large amount of U.S. dollars, he said, "The United States has a good understanding of the structure of our foreign exchange market," adding, "So I believe they are likely to accept what we have proposed."

On the timing of reaching an agreement, Koo said, "It would be best if it happens quickly, as long as it serves our national interest," adding, "I plan to meet with Secretary Besant to discuss the matter directly."

Koo is visiting the United States to attend the 'Group of Twenty (G20) Finance Ministers and Central Bank Governors Meeting' and the 'International Monetary Fund (IMF) and World Bank (WB) Annual Meetings' in Washington, D.C. He plans to use the opportunity to meet with Secretary Besant and discuss trade negotiation proposals.

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