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South Korea officials, business leaders join last-ditch push for US trade deal
South Korea officials, business leaders join last-ditch push for US trade deal

CNA

time3 hours ago

  • Business
  • CNA

South Korea officials, business leaders join last-ditch push for US trade deal

SEOUL: Three South Korean cabinet-level officials met US Commerce Secretary Howard Lutnick in Washington in a push to close a trade deal, Seoul said on Wednesday (Jul 30), squaring off with a key US official driving a hard bargain just ahead of a deadline. South Korean Finance Minister Koo Yun-cheol joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo, who have been in Washington since last week, for two hours of talks with Lutnick, a ministry spokesperson said in Seoul. The finance ministry spokesperson did not offer details of the discussions. US President Donald Trump has set an Aug 1 deadline for 25 per cent tariffs to kick in against South Korea, a major US ally and powerhouse exporter of chips, autos and steel. The latest meeting came amid a Wall Street Journal report that Lutnick had urged the South Korean team to bring their best and final offer to the table during a meeting he had with Kim and Yeo in Scotland. Lutnick told the South Korean officials they need to "bring it all" when they make their final offer to Trump, the report said. Koo, who arrived in Washington on Tuesday, has said he hopes to convince the United States the package of trade and related offers of industrial cooperation, including in shipbuilding, was to the allies' mutual benefit. Koo also plans to meet US Treasury Secretary Scott Bessent during the visit. Pressure has been mounting on South Korea since Japan clinched a deal to cut Trump's threatened tariffs to 15 per cent last week. This was followed by a US-EU trade deal over the weekend, and Trump's top aides, including Bessent, are now w orking to close a deal with China.

Disney+ K-drama Law and the City midseason recap: legal drama is pleasant but unsurprising
Disney+ K-drama Law and the City midseason recap: legal drama is pleasant but unsurprising

South China Morning Post

timea day ago

  • Entertainment
  • South China Morning Post

Disney+ K-drama Law and the City midseason recap: legal drama is pleasant but unsurprising

This article contains mild spoilers. Advertisement Lead cast: Lee Jong-suk, Moon Ga-young, Kang You-seok Latest Nielsen rating: 5.78 per cent During the otherwise pleasant and routine slice-of-life legal drama Law and the City, one recent moment has stuck out like a sore thumb. Advertisement Ever since the moment she strutted into a cocktail bar in a flashy floor-length coat to pitch this idea to her tenants, there has been a hint of danger in her movements, even though her presence has largely been benevolent.

South Korea offers shipbuilding tie-up as clock ticks on US tariff deadline
South Korea offers shipbuilding tie-up as clock ticks on US tariff deadline

Malay Mail

timea day ago

  • Business
  • Malay Mail

South Korea offers shipbuilding tie-up as clock ticks on US tariff deadline

SEOUL, July 29 — South Korean Finance Minister Koo Yun-cheol said on Tuesday he would seek a mutually beneficial trade deal when he meets US Treasury Secretary Scott Bessent for talks this week, just days before an August 1 deadline expires to avoid punishing tariffs. Speaking at the airport before departing for Washington, Koo said he would propose at Thursday's meeting a 'programme' South Korea had prepared and consult on areas where they could cooperate in the mid-to-long term, such as shipbuilding. South Korea's Hanwha Group, parent of shipbuilder Hanwha Ocean, had submitted a major investment plan to government officials, according to two people familiar with the matter. The plan included expanding its recently acquired Philly Shipyard in the state of Pennsylvania and involved Hanwha Group and some of its affiliates, said the sources, who asked not to be identified due to the sensitivity of the issue. Hanwha Group's Vice Chairman Kim Dong-kwan also flew to Washington to support trade negotiations, local media reported. Seoul officials are scrambling in an all-out push to clinch a trade deal ahead of the August 1 deadline to remove or reduce tariffs threatened by US President Donald Trump against the country's key industrial exports to the United States. Koo's plan to travel to Washington last week for talks with Bessent was postponed due to the US treasury chief's scheduling conflict. 'Treasury Secretary Bessent holds the important position of overseeing trade negotiations in the Trump administration,' Koo said in brief remarks to reporters. 'We will make the best effort to derive an agreement based on our national interest that would allow South Korea and the United States to co-exist,' he said. Koo said he would be joining Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo who have been holding talks in Washington with US officials including Commerce Secretary Howard Lutnick for an 'all-out response.' Lutnick said in an interview with Fox News on Monday that South Korean officials had flown to Scotland to meet with him. 'Think of how much they really, really want to get a deal done,' he said. Foreign Minister Cho Hyun will also visit Washington this week for a meeting with US Secretary of State Marco Rubio, following a visit to Japan on Tuesday to meet his counterpart. — Reuters

Samsung Electronics chief heads to Washington to support US trade talks, Yonhap says
Samsung Electronics chief heads to Washington to support US trade talks, Yonhap says

Yahoo

timea day ago

  • Business
  • Yahoo

Samsung Electronics chief heads to Washington to support US trade talks, Yonhap says

SEOUL (Reuters) -The chairman of Samsung Electronics, Jay Y. Lee, boarded a flight to Washington on Tuesday, the Yonhap News Agency reported. Yonhap said Lee is expected to support trade talks between South Korea and the United States during the trip. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤

South Korea Foreign Minister Cho visiting Japan, US for first meetings with allies
South Korea Foreign Minister Cho visiting Japan, US for first meetings with allies

Reuters

timea day ago

  • Business
  • Reuters

South Korea Foreign Minister Cho visiting Japan, US for first meetings with allies

SEOUL, July 29 (Reuters) - South Korean Foreign Minister Cho Hyun said on Tuesday he would hold his first meeting in Tokyo with his Japanese counterpart Takeshi Iwaya since taking up his post this month before travelling to the U.S. to support trade negotiations. Cho will also have his first meeting with U.S. Secretary of State Marco Rubio on July 31, as Seoul makes a final push to secure a trade deal to limit the impact of punishing U.S. tariffs due to come in on August 1. "The tariff negotiations are nearing an end. I will provide much support for this as well," Cho told reporters in Seoul ahead of his departure to Japan. "But more importantly, we will discuss how to cooperate between South Korea, the U.S. and Japan as well as strengthen the U.S. alliance in a comprehensive way." As for his Japan visit, Cho said he would discuss important bilateral issues including historical disputes "in a future-oriented way" and agree to cooperate going forward. "The most important thing is how to achieve peace and stability in Northeast Asia through cooperation between Korea and Japan," Cho said.

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