Lee's top security aide meets US officials ahead of tariff deadline
In a press notice, Wi said he accompanied Trade Minister Yeo Han-koo for talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer during his stay in Washington earlier this week.
He also held a phone consultation with US Secretary of State Marco Rubio and met with Under Secretary of State for Political Affairs Allison Hooker during the visit.
"The visit to the US was part of a broader strategic dialogue encompassing both security and economic issues between South Korea and the US, with the aim of supporting follow-up discussions on specific economic matters," Wi said in the notice, without elaborating.
His second trip to Washington this month comes at a critical time, as Seoul faces mounting pressure to strike a deal with the US to stave off the imposition of 25 percent tariffs on Korean exports before the Aug. 1 deadline, through a comprehensive trade and investment package.
The finance and trade chiefs of the two countries had been scheduled to hold "2+2" high-level talks in Washington on Friday. But Seoul announced earlier in the day that the meeting was postponed due to US Treasury Secretary Scott Bessent's urgent schedule.
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Korea Herald
2 hours ago
- Korea Herald
US delays crucial ‘2+2' trade meeting with Korea
Seoul weighs $100 billion US investment from top chaebol groups to avert looming tariffs A high-level trade meeting between South Korea and the US was abruptly called off Thursday, just one day before it was set to take place in Washington, due to US Treasury Secretary Scott Bessent's "urgent schedule." The delay has sparked concerns in Seoul as next week's tariff deadline approaches with insufficient time for a potential breakthrough. South Korea's Deputy Prime Minister and Finance Minister Koo Yoon-cheol was set to depart for Washington when the US notified Seoul of the last-minute decision. Koo canceled the trip after receiving the notice while waiting at Incheon International Airport, just an hour before his scheduled flight. The now-delayed '2+2" dialogue was to take place between Koo and Trade Minister Yeo Han-koo from Korea, as well as Bessent and US Trade Representative Jamieson Greer from the US. It would have marked the first such meeting under President Lee Jae Myung's new Cabinet. The high-stakes talks were seen in Seoul as a critical opportunity to make a breakthrough in trade talks before the Aug. 1 deadline, when a 25 percent 'reciprocal tariff' will be imposed on all Korean goods unless a new deal is reached. "Washington has apologized multiple times for postponing the meeting and proposed rescheduling the meeting between Bessent and Koo as soon as possible," Seoul's Finance Ministry said. While the US did not clarify the nature of Bessent's scheduling conflict, reports say he may accompany US President Donald Trump's trip to Scotland on July 25-29. This means it could be virtually impossible to reschedule the '2+2' meeting before the tariff deadline, further dimming hopes of a negotiated resolution in time. Despite the disruption, Yeo and Industry Minister Kim Jung-kwan, who are already in Washington, will continue consultations with their US counterparts, including Greer, Secretary of Commerce Howard Lutnick and Secretary of Interior Doug Burgum, according to the Industry Ministry. South Korea has been pushing for reduced tariff rates or exemptions through a comprehensive deal covering both tariffs and broader economic cooperation. Korean exports currently face a 10 percent base tariff with additional levies imposed on key products, such as 25 percent tariffs on automobiles and auto parts, and 50 percent on steel and aluminum. Without a meaningful advancement in negotiations, this baseline tariff is scheduled to increase to 25 percent on Aug. 1, intensifying economic strain on the export-dependent country. Further adding to the pressure, Japan struck a deal with the US on Wednesday. The latter agreed to lower its tariff rate against Japan from 25 percent to 15 percent in exchange for a whopping $550 billion investment in the US and a difficult concession to open its market for more American automobiles and rice. Observers say Japan's deal could serve as a benchmark for South Korea in its own negotiations, as the two countries share similar trade dynamics with the US: both run comparable trade deficits and rely heavily on the US market for key exports, such as automobiles, semiconductors and electronics. Like Japan, South Korea is considering an investment package exceeding $100 billion with participation from the country's major conglomerates, including Samsung, SK, Hyundai Motor and LG, according to industry sources. The figure is expected to grow as additional corporate and government contributions are finalized. Seoul had planned to propose a $100 billion package during the now-postponed talks. President Lee was scheduled to meet with Samsung Electronics Chair Lee Jae-yong on Thursday afternoon, according to local media reports, with discussions expected to focus on the US investment and tariffs. Lee has held similar one-on-one meetings since last week, seeing Hyundai Motor Chair Chung Euisun on July 14, LG Group Chair Koo Kwang-mo on July 15, Hanwha Group Vice Chair Kim Dong-kwan on Tuesday and SK Group Chair Chey Tae-won on Wednesday. Meanwhile, National Security Adviser Wi Sung-lac sought to dispel speculation that he was unable to have a face-to-face meeting with US Secretary of State Marco Rubio during his visit to Washington. Wi explained that Rubio was urgently summoned by Trump, and was unable to meet as the meeting ran longer than expected. Wi said that "sufficient coordination had taken place via phone call" with Rubio, and that they had agreed to have an additional consultation, with the specific time and method to be arranged through working-level coordination. "The report that the US side refused the meeting, resulting in the cancellation of the talks, is inaccurate. Such misinformation not only undermines the reputations of the individuals involved, including Wi and Rubio, but could also negatively impact the trust between Korea and the US in the middle of sensitive communication," Wi said in a written statement.
Korea Herald
12 hours ago
- Korea Herald
Ministers of defense, unification, veterans affairs appointed
South Korea sees 1st civilian Defense Minister in 64 years; reinstated Unification Minister urges swift restoration of inter-Korean communication channel President Lee Jae Myung has appointed Ahn Gyu-back as the Defense Minister, Chung Dong-young as the Unification Minister and Kwon Oh-eul as the Veterans Affairs Minister, the presidential office announced Friday. Including the prime minister, this brings the number of confirmed Cabinet ministers in the Lee administration to 16 out of the total 20 as of Friday. Ahn, a five-term lawmaker of the ruling Democratic Party of Korea, said he would restore people's trust toward South Korea's military after the martial law crisis in December, during which national armed forces were deployed to the National Assembly. He added he would "not be bound by conventions and inaction" as the civilian leader of the Ministry of the National Defense. The new defense minister is a career politician who served as a member of the National Assembly's National Defense Committee from 2008 to 2025. He said he would navigate challenges faced by the South Korean military, such as a dwindling young population, the advancement of North Korea's nuclear and missile threat, heightened volatility in the geopolitical situation, and the fast-paced development of cutting-edge arms technologies, among others. He also stressed the need to achieve peace on the Korean Peninsula on the foundation of military strength. Chung, also a five-term lawmaker of the Democratic Party, visited Panmunjom, a village in the demilitarized zone in northern Gyeonggi Province, later on Friday. There, he called for a swift restoration of the communication channel between the two Koreas, as he inspected an inter-Korean emergency hotline in Panmunjom. The communication line has been cut off since April 2023. This is Chung's second time taking on the role of unification minister, having previously taken on the role from July 2004 to December 2005 under the late former President Roh Moo-hyun. Kwon vowed to boost support for veterans with low income and the bereaved families of war veterans, as well as increase rewards for the sacrifices veterans have made for the country, in his inaugural speech on Friday. Kwon was previously a conservative lawmaker from 1996 to 2008. As for the four remaining ministerial posts, Lee's administration awaits the confirmation hearing of two: Culture Minister nominee Chae Hwi-young and Land Minister nominee Rep. Kim Yun-duk. The nominees for education minister and gender equality minister recently dropped out due to controversies that grew over the course of their confirmation hearings.
Korea Herald
13 hours ago
- Korea Herald
Opposition urges Lee to engage with Trump over canceled US tariff talks
South Korea's main opposition People Power Party on Friday lashed out at President Lee Jae Myung over Washington's abrupt postponement of a high-level tariff negotiation, calling for immediate diplomatic engagement with US President Donald Trump. Rep. Song Eon-seog, interim leader of the conservative People Power Party, said during a radio interview with local broadcaster SBS that Lee must fly to the US immediately and meet with Trump. "Japanese Prime Minister Shigeru Ishiba met directly with Trump, but Korea couldn't even secure a summit or a meeting with US negotiators," Song said. "Our deputy prime minister was informed at the airport that the talks were off." This came as the so-called "2+2" meeting between the two countries' finance and trade chiefs, originally set for Friday in Washington, was called off just a day prior. According to Seoul officials, the US informed Korea of the postponement via email at around 9 a.m. Thursday, citing a scheduling conflict involving US Treasury Secretary Scott Bessent. The talks were seen as a last-ditch opportunity to reach a breakthrough for concluding the ongoing US-Korea tariff deal before the Aug. 1 deadline — a date reportedly set by Trump himself. The sudden cancellation has fueled concern that no meaningful dialogue may take place before then. Song criticized the liberal administration's lack of preparation. 'They once pressured the previous administration to delay negotiations by impeaching key ministers and insisted the matter be passed on to the next government,' he said. 'But now that they've taken power, it's clear they weren't prepared at all — and it raises doubts as to whether Lee was ever truly ready for the job.' People Power Party spokesperson Choi Soo-jin called the situation a "diplomatic failure." "Korea alone has been excluded from the conversation," she said, pointing out that Japan, the Philippines and the European Union have all made headway in their own tariff talks with the US. "The US isn't doubting Korea — it's doubting the president. There are growing concerns that President Lee's repeated pro-China gestures are eroding trust in the alliance." Rep. Jang Dong-hyeok, a lawmaker who recently declared his bid for the party's leadership election in August, wrote on Facebook that the talks were "not postponed, but effectively rejected," adding that it remains uncertain whether a new meeting can be scheduled before the Aug. 1 deadline. The ruling Democratic Party of Korea pushed back against the criticism, accusing the opposition of using the talks for political gain. "It's shameless to use this crucial negotiation as a tool for partisan attacks," said Rep. Park Sang-hyuk, the party's deputy floor spokesperson. "Instead of undermining the government, the opposition should help by voicing strong demands to the US — such as refusing to further open the rice market or increase defense cost-sharing — to support our negotiation efforts." Park warned that the opposition's political attacks only weaken Korea's negotiating position. 'They're hurting our leverage,' he said. 'It's frustrating to see the opposition show such a fundamental lack of understanding.' Park also said that the government is exploring various channels, describing the cancellation as part of Trump's negotiation tactics. 'President Trump is known for frequently shifting his negotiation tactics, and there are likely to be many variables at play — but the government is continuing its efforts through multiple channels,' he said.
