Minister of Trade, Industry and Energy Kim Jung-kwan and Deputy Minister for Trade and Investment Cooperation Yeo Han-goo met with U.S. Secretary of Commerce Howard Lutnick in Washington D.C. on July 24 (local time) to intensively discuss ways to conclude the South Korea-U.S. tariff negotiations.

Minister of Trade, Industry and Energy Kim Jung-kwan met with U.S. Secretary of Commerce Howard Lutnick at the Department of Commerce conference room in Washington D.C., USA, on July 24, 2025 (Thursday, local time) at 11:30 AM to discuss progress in South Korea-U.S. tariff negotiations and measures to strengthen industrial cooperation.  

Minister Kim stated, aiming for a resolution before August 1, "We will dedicate all our capabilities to achieve the best outcome for maximizing national interests."

During the meeting held at 11:30 AM that day, Minister Kim emphasized strengthening bilateral cooperation in strategic manufacturing sectors such as shipbuilding, semiconductors, and batteries, and strongly proposed the necessity of tariff reductions on items including automobiles and mutual tariff adjustments based on this cooperation. He stressed, "We will do our utmost to ensure our companies are not treated unfavorably compared to competing nations."

The ministers of both countries reaffirmed their commitment to reaching a mutually beneficial agreement before August 1 and agreed to pursue prompt additional negotiations to that end. The tariff negotiations have been an issue involving the U.S.'s manufacturing protection policies and concerns from the Korean industry about disadvantages. Observations suggest that this high-level negotiation could be a substantial turning point for reaching an agreement.

Meanwhile, on the previous day, the 23rd, Minister Kim also met with U.S. Secretary of Energy Chris Wright to discuss cooperation in clean energy and energy security. He requested Secretary Wright's attendance at the 'Energy Super Week' event to be held in Busan at the end of August and is continuing working-level consultations to expand energy cooperation between the two countries.

On the same day, Deputy Minister for Trade and Investment Cooperation Yeo Han-goo engaged in outreach activities through a video conference with Alabama Governor Kay Ivey, emphasizing the expansion of investment by Korean companies in the U.S. and their job creation achievements.

Going forward, Minister Kim is scheduled to continue discussions on tariff negotiations and energy cooperation through individual meetings with Doug Burgum, Chairman of the U.S. National Energy Commission, and Deputy Minister Yeo with Katherine Tai, U.S. Trade Representative, and Texas Governor Greg Abbott, respectively.