Seoul: Finance Minister Choi Sang-mok stated on Wednesday that South Korea is not in a rush to finalize trade negotiations with the United States before its upcoming presidential election. His remarks were aimed at addressing recent comments by U.S. Treasury Secretary Scott Bessent, which he clarified were not specifically directed at South Korea.

According to Yonhap News Agency, Choi's statements came after Bessent suggested that some U.S. trading partners, including South Korea, might aim to complete a "framework of a deal" before their respective elections. Choi, speaking at a parliamentary committee meeting, expressed surprise at Bessent's remarks and clarified that they seemed intended for a domestic audience during Bessent's 100-day press conference.

Choi further highlighted that ongoing working-level discussions between South Korea and the U.S., set for this week, are not being expedited. These discussions are aligned with a 90-day pause in reciprocal tariff measures announced by U.S. President Donald Trump. Last week's high-level talks between the two nations resulted in an agreement to pursue a "July package" concerning U.S. tariffs and bilateral cooperation before July 8, when the tariff pause concludes.

There had been speculation about a potential deal being finalized before South Korea's presidential election, prompted by the impeachment and removal of former President Yoon Suk Yeol. However, earlier on Wednesday, the Ministry of Economy and Finance refuted reports suggesting a rush to finalize the deal before the June 3 election. The ministry reiterated the importance of aligning negotiations with the domestic political timeline and ensuring proper communication with the National Assembly, emphasizing their commitment to proceeding without haste.