Published: 15:30, June 16, 2025
South Korea launches task force on US trade negotiations
By Reuters
Cranes, vehicles and shipping containers are seen at a port in Pyeongtaek, South Korea, on April 24, 2025. (PHOTO / AP)

SEOUL - South Korea launched on Monday a task force on negotiations with the United States on tariff and non-tariff matters across industry and the energy sector that will also coordinate with the private sector, the Industry Ministry said in a statement.

Minister for Trade Yeo Han-koo, who was appointed last week by the new liberal President Lee Jae-myung, said the team had a major responsibility as "businesses and the public have experienced great difficulties due to US tariff measures."

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The task force, made up of industry ministry officials overseeing trade, manufacturing, energy and investment, will coordinate across the government and with the private sector to devise a successful strategy, said Yeo, who will head the group.

Lee, who won a snap election on June 3 and had said during his campaign that there was no need to rush into a trade agreement with the United States, has since said he would speed up talks with Washington.

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After Lee held a phone call with US President Donald Trump, his office said the leaders agreed to work towards a deal acceptable to both countries.

South Korea was seeking waiver from tariffs announced by the Trump administration that affect the country's major export industries, including automobiles, steel and semiconductors.