Seoul: South Korea's Industry Minister Kim Jung-kwan announced ongoing discussions between Seoul and Washington regarding U.S. semiconductor tariffs, emphasizing that South Korea would not face disadvantages compared to its competitors.

According to Yonhap News Agency, Minister Kim's remarks came during a meeting with reporters at an event celebrating investment plans by four U.S. companies in South Korea. This follows a statement by U.S. Commerce Secretary Howard Lutnick, indicating that the Trump administration is striving to formulate a "targeted" tariff policy for semiconductors.

Kim noted that during the October tariff negotiations, the U.S. assured South Korea that its semiconductors would not be treated less favorably than those from other countries. He expressed confidence that the talks are progressing under this understanding.

The minister also highlighted a joint fact sheet released by Seoul and Washington in November, which outlines agreements on trade, investment, and security. This document includes a U.S. commitment to offer South Korea semiconductor tariff rates "no less favorable" than potential future deals involving comparable volumes of chip trade.

When questioned about the timeline for the U.S. tariff announcement, Kim mentioned that no specific date has been provided by the U.S.

Additionally, Kim hinted at the possibility of South Korea unveiling its first investment project under a bilateral trade agreement this month, suggesting that related discussions may soon reach a conclusion.