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 working to close a deal with China.

South Korean Foreign Minister Cho Hyun will also travel to Washington this week to assist with the tariff negotiations.