"Could not meet Greer, but consultations with USTR will continue"
Yeo Han-koo, head of the Trade Negotiations Office at the Ministry of Trade, Industry and Energy, who returned to Korea after completing his visit to the United States, said that “at this stage, the most important thing is to swiftly pass the Special Act on Strategic Investment Management between Korea and the United States (Special Act on Investment in the United States).”
Speaking to reporters after arriving at Incheon International Airport on the morning of the 5th, following his trip to Washington, D.C., Yeo said, “I stressed to the U.S. administration, Congress, industry, and think tanks that Korea is determined to faithfully and promptly implement the tariff agreement.”
Regarding the fact that no meeting was held with Jamieson Greer, United States Trade Representative (USTR), Yeo explained, “We held three rounds of in-depth consultations at various levels, including the deputy representative and director-general level,” adding, “We have also been in contact with the representative five times over the past three weeks, and we plan to continue consultations next week as well.”
He said, “Since the U.S. side cited the delay in parliamentary passage as the basis for the tariff increase, it will certainly help to demonstrate that we will move quickly based on a bipartisan agreement,” but added, “We cannot prejudge the U.S. position, and it is important to consult closely so that there is no misunderstanding regarding the remaining implementation tasks.”
As for the fact that the plan to raise tariffs was first made public through U.S. President Donald Trump’s social networking service (SNS) account, he explained, “A message posted on SNS does not immediately become an administrative measure, and legal effect only arises after going through internal administrative procedures such as publication in the official gazette.”
He continued, “What is important is that, even if it is published in the official gazette, the room for negotiation will differ depending on whether the timing of the tariff increase is applied immediately or whether there is a grace period,” and added, “Since the government still has time to negotiate, we will continue to consult closely with the U.S. side to steer things in a direction most favorable to our national interest.”
On issues such as digital regulations, specific corporate matters, and the potential for cooperation in energy and nuclear power, he said, “It is difficult to disclose the concrete details of our consultations,” adding, “We are focusing on managing existing agreed items, such as investment and non-tariff measures, so that they do not escalate into friction.”
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