Incheon: South Korea's Industry Minister Kim Jung-kwan stated that he believes "unnecessary misunderstandings" were resolved through discussions with U.S. Commerce Secretary Howard Lutnick in Washington regarding recent trade tensions.

According to Yonhap News Agency, Kim made these comments upon returning to South Korea at Incheon International Airport after holding meetings with U.S. officials at the Commerce Department. The meetings, which took place on Thursday and Friday, concluded without reaching a definitive agreement. Kim emphasized that mutual understanding between the two nations has significantly deepened and expressed confidence that some misunderstandings have been addressed.

Kim's visit to the U.S. followed a statement by U.S. President Donald Trump on Monday, threatening to increase "reciprocal" tariffs and auto duties on South Korea from 15 percent to 25 percent. The threat was made in response to delays in South Korea's legislative process related to implementing a bilateral trade deal. Last year, South Korea and the U.S. agreed on a trade deal involving a $350 billion investment by South Korea in the United States in exchange for reduced tariff rates.

The delay in implementing the trade deal stems from the ruling Democratic Party's bill, submitted to parliament in November, which has not yet been passed. Kim assured that the South Korean government has no intention of not implementing or delaying the tariff agreement. He explained to the U.S. side that the special bill is expected to be processed swiftly, clarifying the reasons behind the delay.