High-Stakes Tariff Talks: South Korea and U.S. at Critical Phase

South Korea is navigating a pivotal stage in tariff negotiations with the United States, as acknowledged by the nation's industry minister, Kim Jung-kwan.

The talks, which could unfold in various directions, are intensified by the approaching deadline for U.S. 'reciprocal' tariffs set for August 1. This has prompted a committed effort from South Korean officials to finalize the negotiations favorable.

National security adviser Wi Sung-lac is en route to Washington, while additional ministers, including Kim, may join him to engage with U.S. counterparts. Wi's objective is to seek lower tariff rates, aiming for a more balanced economic relationship.

(With inputs from agencies.)