Seoul: The South Korean government announced on Thursday that the topic of exchange rates was not part of the discussions in its trade negotiations with the United States. These talks concluded with a last-minute agreement to lower the initially proposed tariffs.

According to Yonhap News Agency, the South Korean delegation reached an agreement with the administration of U.S. President Donald Trump to decrease the planned "reciprocal" tariffs on South Korean goods from 25 percent to 15 percent. Finance Ministry spokesperson Kang Young-kyu clarified that there were no direct discussions about the exchange rate during trade talks with President Trump.

Kang further mentioned that currency-related issues are being handled separately through ongoing consultations between the financial authorities of both countries. Meanwhile, the finance ministry reported that a scheduled meeting between Finance Minister Koo Yun-cheol and U.S. Treasury Secretary Scott Bessent was canceled due to the agreement being reached.