Seoul: The South Korean government is actively working to ensure that the United States recognizes the differences between South Korea and Japan in ongoing trade negotiations. South Korea’s Trade Minister, Yeo Han-koo, highlighted the importance of this distinction during a forum held in southern Seoul.

According to Yonhap News Agency, Yeo pointed out that the economic indexes, foreign currency structures, and economic sizes of South Korea and Japan demonstrate that the two countries should not be treated the same in trade negotiations. Yeo suggested that it is not appropriate for Seoul to be asked to pay the same price as Tokyo in their negotiations with Washington.

Yeo acknowledged the U.S. perspective, noting that Washington recorded similar trade deficits with both South Korea and Japan last year, which might explain why the U.S. considers placing Korea at the same level as Japan. The ongoing negotiations between Seoul and Washington are focused on finalizing a framework trade deal signed in late July. Under this deal, South Korea pledged to invest $350 billion in the U.S. in return for the U.S. lowering its reciprocal tariff on South Korea to 15 percent from an initially proposed 25 percent and reducing the 25 percent tariff on South Korean autos to 15 percent.

Japan had previously reached a similar agreement with the U.S., committing to a $550 billion investment. A subsequent detailed agreement stipulated that profits from the Japanese investment would be split equally initially, but the U.S. would receive 90 percent of the profits once Japan recouped its $550 billion investment.

Yeo also addressed criticisms regarding the South Korean government’s efforts to negotiate a reduction in Washington’s 25 percent tariff on South Korean cars and auto parts. He stated that the government is taking the issue seriously and acknowledged the challenge the U.S. faces in providing special treatment to specific countries due to numerous ongoing trade negotiations.

He emphasized that maintaining the current competitive landscape is the best approach and noted that it is realistic for Korea to negotiate terms that are not disadvantageous.