S. Korea seeking deal with U.S. before August 1 tariff deadline

And taking into account that outlook by Mr. Trump South Korea is actively working to seal a trade deal with the U.S. ahead of this coming Friday's deadline on the pause in country-specific tariffs.

Our correspondent Kim Do-yeon has the latest.

After a last-minute cancellation derailed his trip to the U.S. last week, Finance Minister Koo Yun-cheol's new date for a one-on-one meeting with U.S. Treasury Secretary Scott Bessent is July 31st, the day before the U.S.'s tariff pause ends.

With the tariffs set to take effect the following day, this could be Seoul's last chance to strike a deal before the 25-percent duties kick in as announced along with other tariffs for specific items such as cars, steel, and chips.

Adding pressure, Japan has already secured a 12.5 percent tariff on auto exports compared to a rate of 25 percent rate for other nations, giving its automakers a potential edge over Korean competitors.

In response, Seoul is reportedly preparing a broad package of proposals, including deeper cooperation in strategic sectors like shipbuilding and semiconductors, and significantly expanded investment commitments.

One key bargaining chip: a possible boost to Korea's "100 billion dollars plus" investment plan, aimed at matching Japan's earlier pledge of 550 billion dollars in exchange for tariff concessions.

The presidential office is also on full alert.

President Lee Jae-myung is said to be watching the situation around the clock as the deadline approaches closely monitoring the situation.

"The President's message is to approach the negotiations with multiple factors in mind, considering the complex and evolving global landscape, and to aim for outcomes that could bring significant benefits to our country."

On Saturday, the top office convened its second emergency meeting in as many days, led by Policy Chief Kim Yong-beom and National Security Advisor Wie Sung-lac.

With both the industry and trade ministers currently in the U.S., they joined virtually to brief on their latest meetings with U.S. counterparts.

Shipbuilding again emerged as a key point of discussion, according to Industry Minister Kim Jeong-kwan, reflecting Washington's continued interest in strategic manufacturing ties.

Kim Doyeon, Arirang News.