Deputy Pime Minister and Minister of Economy and Finance Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Duk-geun held a “2+2 Trade Consultation” on April 24 (Thu) at 8:00 a.m. (local time) in Washington, D.C. with U.S. Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer.

This consultation marked the first official bilateral meeting attended by both finance and trade ministers of both nations, serving as a platform to exchange views on the interests and positions of the two sides concerning U.S. tariff policies and to explore paths for future consultations.

While DPM Choi conveyed the concerns of the Korean public regarding the reciprocal and sector-specific tariffs imposed by the U.S., he proposed that both countries work together to explore avenues for cooperation that can bring mutually beneficial outcomes for both sides, underscoring that Us is Korea’s trusted and reliable partner. DPM Choi also noted the importance of conducting consultations in a calm and orderly manner, given Korea’s current circumstances and broader domestic considerations.

Minister Ahn proposed ways for both Korea and the U.S. to mutually contribute to achieve a sustainable and balanced bilateral trade relationship, enhance Korea’s energy security, and support the revitalization of the U.S. shipbuilding industry. Furthermore, he requested exemptions from reciprocal and sector-specific U.S. tariffs.

Marking the first official consultation of its kind, it was conducted in an amicable atmosphere, and both countries agreed to continue with working-level meetings and additional high-level discussions going forward.

Please refer to the attached files.