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| ▲ South Korea's Industry Minister Kim Jung-kwan arrives at Dulles International Airport near Washington, D.C., on Jan. 28, 2026. (Yonhap) |
industry minister-US tariffs
Industry minister to meet Lutnick Thursday to discuss Trump's threat to increase tariffs
By Song Sang-ho and Park Sung-min
WASHINGTON, Jan. 28 (Yonhap) -- Industry Minister Kim Jung-kwan said Wednesday that he will meet U.S. Commerce Secretary Howard Lutnick the following day for talks over President Donald Trump's recent threat to raise "reciprocal" tariffs and other levies on South Korea.
Kim made the remarks upon arrival at an airport near Washington, D.C., two days after Trump threatened to increase reciprocal tariffs and auto, lumber and pharmaceutical duties on Korea to 25 percent from 15 percent, citing a delay in Seoul's legislative procedures supporting the implementation of the trade deal.
"As far as I understand, (the Trump administration) appears to be dissatisfied with how the domestic legislative process has been progressing. President Trump made remarks to that effect. I contacted Secretary Lutnick at one point, and he held that view (too).
"I plan to provide sufficient explanation to ensure that there will be no misunderstandings regarding the domestic legislative process and explain well that the South Korean government's position remains unchanged with regards to cooperation with the U.S. and investments in the U.S.," he added.
Submitted by the ruling Democratic Party in November, an investment bill aimed at supporting the implementation of a bilateral trade deal has yet to pass the National Assembly. Trump has apparently taken issue with the delay in the legislative process.
Asked to comment on a report that the U.S. government began a process to put the plan for the tariff increase on the Federal Register, the minister said it might be "natural" for working-level officials to make such preparations when the talk of tariff adjustments arises.
Under the bilateral trade agreement, Seoul committed to investing US$350 billion in the U.S., among other pledges, in return for Washington's lowering of reciprocal tariffs to 15 percent from 25 percent.
Responding to a question about when South Korea will start executing its investment plans, Kim pointed out legislative procedures in South Korea, as well as the need to work out specifics of the investment projects -- topics that he said he will discuss with the U.S. government.
"As there needs to be a review about our country's national interests and commercial rationality vis-a-vis each (investment) project, we need to pore over (the projects)," he said. "Rather than prejudging the timing, we will have consultations to ensure that the project will be something that both countries welcome at the most appropriate time."
Aside from a meeting with Lutnick set for Thursday, Kim plans to meet other senior Trump administration officials, including Energy Secretary Chris Wright.
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