Presidential Office "Aligning the zero point in U.S.-Korea tariff negotiations…so many variables"

Kang Yu-jeong, spokesperson for the Presidential Office, said at a briefing on the 14th regarding follow-up U.S.-Korea tariff negotiations, "We are aligning the zero point (零點) under different conditions," adding, "It is a negotiation with so many variables."

Spokesperson Kang explained, "The zero point we think of is the point at which our national interest is preserved to the greatest extent and the national interest is realized," and said, "We are negotiating to align the zero point by changing various conditions such as our exchange rate and the overall economic and political situation." She added, "Rather than an exact number at a certain time or target point, I think a part that we can inform the public of will emerge when we reach the point where the national interest is optimal."

No timing for a deal has been set, which is interpreted to mean the negotiations could be prolonged depending on the content. It suggests the stance has not changed since President Lee Jae-myung said at his 100-day press conference on the 11th, "We still need to negotiate for a long time." In this regard, Kim Yong-beom, director of policy at the Presidential Office, said on the 9th, "It could deliver a major shock to our entire economy, so we cannot rush to agree to narrow the tariff gap in the automobile industry in a short period."

Spokesperson Kang said, "Various articles are coming out regarding the tariff negotiations," and "Rather than discussing concrete items like 'this is what they (the U.S.) are claiming' or 'this is what we are claiming,' it's a situation of continual adjustment." U.S. Commerce Secretary Howard Lutnick is reportedly making claims that the United States would take 90% of the profits generated from the 350 billion dollars worth of U.S.-bound investment fund Korea is creating.

Kang said, "President Lee used the expression that we are defensive (regarding tariff increases)," and "We are continuing negotiations from the perspective of defending the national interest as much as possible."

Reporter Kim Hyung-kyu khk@hankyung.com