South Korea Seeks Exemption from US Tariffs
South Korean officials have appealed for an exemption from US steel and aluminum tariffs during a visit to Washington, the industry ministry announced Friday.
Deputy Minister Park Jong-won led the delegation, arguing that bilateral trade tariffs have largely been eliminated under the countries' free trade agreement.
As a major trading partner with the US, South Korea expressed concern over President Trump's tariffs. Park emphasized South Korean companies' US investments and proposed high-level discussions with the Trump administration to enhance cooperation.
He also met with Congress members to maintain incentives for South Korean firms operating in the US.
The ministry stated that the government "will continue high-level consultations on US trade measures and respond to minimize damage to Korean companies through close industry communication."
Acting President Choi Sang-mok highlighted South Korea's significant investments in the US and believes it strengthens their position for tariff negotiations.
Analysts from Standard Chartered note that South Korea contributed over 20,000 US jobs in 2023, positioning Korea and Japan for potential tariff exemptions.
South Korea's response to US tariffs has been affected by a political crisis, with President Yoon Suk Yeol imposing martial law in December. Choi, who assumed office after Yoon and the prime minister were impeached, has yet to engage directly with Trump.