US Treasury: "South Korea Wants Trade Agreement Framework Before Presidential Election"

Temperature Difference with South Korean Government's 'July Package'

US Treasury Secretary Scott Besant stated at a press conference held at the White House on the 29th that "the outline of trade negotiations with South Korea is gradually emerging," and "the South Korean government wants to establish the framework of a trade agreement before the presidential election and then proceed with the campaign." This shows a subtle temperature difference from the existing South Korean government's 'July Package' stance, which aimed to conclude a comprehensive agreement with the US after the early June presidential election and the inauguration of the new government.

Secretary Besant stated that Asian countries such as India, Japan, and South Korea are showing a proactive attitude towards negotiations. He said, "Vice President JD Vance recently visited India and made significant progress with Prime Minister Narendra Modi, and an announcement related to India may come soon," adding, "The outline of an agreement with South Korea is also gradually emerging, and considerable discussions are ongoing with Japan."

Regarding South Korea, he mentioned the possibility of linkage with the presidential election schedule. The South Korean government has hoped to conclude negotiations after July, considering the early presidential election schedule.

Secretary Besant said, "On the contrary, the South Korean government wants to show voters that it has achieved successful negotiations with the US before the election," explaining that "the South Korean government is actually taking a more proactive approach at the negotiating table and is determined to resolve issues first and then proceed with the election campaign."

Reporter Hyein Lee hey@hankyung.com