Presidential Office: "Dramatic Korea-U.S. Tariff Deal, Unlikely We Made Concessions" [Gyeongju APEC]

Kim Yongbeom, Policy Chief, Briefs on the 29th
"Trump Called the Industry Minister a 'Tough Negotiator'"

Yonhap News Agency

Kim Yongbeom, Policy Chief of the Presidential Office, stated on the 29th that regarding the dramatic resolution of tariff negotiations achieved through the Korea-U.S. summit, "We would not have made any concessions."

At a briefing held at the International Media Center in Gyeongju, North Gyeongsang Province, Kim was asked whether it was Korea or the United States that made concessions during the tariff negotiations. He responded with the above remarks.

Kim added, "It is difficult to comment on the other party's position during the negotiations," but hinted, "President Lee said as much, and within just a few days, it is unlikely that we would have made concessions."

In an interview with Bloomberg on the 24th, President Lee stated, "The United States seeking to maximize its own interests should not result in catastrophic consequences for Korea," and added, "A delay in reaching an agreement does not necessarily mean failure, so I ask for your patience."

President Lee's comments led to widespread speculation that a resolution of the tariff negotiations would be virtually impossible at the Korea-U.S. summit. Kim emphasized, "I have repeatedly stated our principles, and President Lee would never neglect the national interest because of timing," adding, "We conducted ourselves according to those principles."

He further explained, "Even as of last night (the 28th), the outlook was not bright. The negotiations progressed rapidly on the day itself."

Meanwhile, Kim mentioned Minister of Trade, Industry and Energy Kim Junggwan, saying, "During the Korea-U.S. summit, U.S. President Donald Trump referred to Minister Kim as a 'tough negotiator,' which shows how intense the negotiation process was."