Seoul: The government is engaged in tariff negotiations with the United States, aiming to protect the national interest and resist any "unfair" agreements, the government policy coordination minister stated. Yoon Chang-yul made this assertion during a parliamentary audit, amidst ongoing efforts between Seoul and Washington to finalize a July agreement. This agreement involves South Korea's commitment to invest US$350 billion in the U.S. in return for a reduction of "reciprocal" tariffs from 25 percent to 15 percent.

According to Yonhap News Agency, Yoon emphasized the ongoing negotiation process, acknowledging that the U.S. tariff rate remains unchanged. He highlighted the importance of concluding negotiations swiftly but stressed that any agreement reached must not compromise national interests or impose unbearable conditions.

Yoon conceded that predicting the future trajectory of these negotiations is challenging, noting that other countries face similar hurdles in their discussions with the U.S. He also assured that the government will explore measures to mitigate any long-term damage to local industries and regions.