S. Korean FM to meet U.S. treasury chief next week for trade talks

Thank you for joining us. I'm Yoon Jung-min.

Finance Minister Choi Sang-mok will meet with U.S. Treasury Secretary Scott Bessent in Washington next week for trade talks.

This comes at the invitation of the U.S. Treasury Department, as the Trump administration looks to be speeding up negotiations with certain trading partners.

Our Shin Se-byuck has the latest.

South Korean Finance Minister Choi Sang-mok is set to visit the U.S. next week for trade talks with Treasury Secretary Scott Bessent.

Seoul's Finance Ministry said on Wednesday that Choi's trip comes in response to a meeting proposal from Washington's treasury chief.

The meeting is expected to take place on the sidelines of Choi's visit to Washington, D.C., next week for the G20 Finance Ministers' Meeting.

Key agenda items for the meeting will include trade issues, which have emerged as a key point of contention between the two allies, as well as monetary and foreign exchange matters.

Seoul said the final schedule and list of participants for the meeting are still under review.

The report follows Bessent's interview with Bloomberg TV on Monday, where he said Washington would hold trade negotiations with South Korea next week.

The Wall Street Journal also reported earlier this week that the Trump administration is prioritizing negotiations with five countries, namely South Korea, the U.K., Australia, Japan, and India.

An expert says the White House is looking to secure early deals with countries more open to dialogue, before moving on to more difficult trading partners.

"South Korea is one of the five countries included because, aside from Mexico and Canada, it's the most eager among major trade-surplus nations to reach a deal with the U.S."

Seoul is reportedly preparing a proposal for Washington that outlines efforts to balance trade and reduce non-tariff barriers as part of its strategy to minimize tariff burdens on key export sectors like automobiles, steel, and semiconductors.

The plan is expected to include a two-track approach: boosting imports of U.S. goods such as natural gas, crude oil, and agricultural products while increasing production of major South Korean exports like cars and chips in the U.S.

Meanwhile, Seoul's Trade Minister Ahn Duk-geun is also expected to visit the U.S. as early as next week for negotiations with Washington.

The trip follows Acting President Han Duck-soo's announcement on Monday that a delegation, led by Ahn, will be dispatched to initiate trade talks with the U.S.

Minister Ahn previously traveled to the U.S. in February and March, shortly after the launch of the Trump administration, to deliver Seoul's position on Washington's proposed tariff plans.

Shin Se-byuck, Arirang News.