South Korea's top trade envoy heading to US amid stalled trade talks

15/9/2025 11:46

South Korea's top trade envoy, Yeo Han-koo, is heading to the United States on Monday for follow-up tariff negotiations, the trade ministry said, as the countries struggle to overcome obstacles to finalise a trade deal agreed in July.



Details of the broad trade agreement still need to be hammered out, especially around a $350 billion investment fund.



Officials in Seoul have said trade talks are being delayed because the terms outlined in a similar deal with Japan struck with the U.S. are unacceptable for South Korea due to foreign exchange market implications.



Yeo's trip comes after Industry Minister Kim Jung-kwan recently returned from Washington after talks with U.S. Commerce Secretary Howard Lutnick.



The apparent inability of Industry Minister Kim to make progress in trade talks during his U.S. trip has raised concerns that negotiations have reached an impasse, local media reported.



Kim did not elaborate on the trade negotiations other than saying they were still underway, when asked by reporters about his latest trip to the United States.



President Lee Jae Myung said last week that he would not sign any agreement with the U.S. if it put at risk South Korea's national interests.