South Korea is set to restart tariff negotiations with the United States on Friday during the Asia-Pacific Economic Cooperation (APEC) summit on Jeju Island, officials confirmed.
The talks will take place on the sidelines of the ministerial summit, where trade leaders from top global economies have gathered amid growing concerns over U.S. protectionist policies. U.S. Trade Representative Jamieson Greer is expected to meet with South Korea’s Trade and Industry Minister Ahn Duk-geun to discuss tariff relief and possible trade concessions.
This meeting follows their earlier encounter in Washington last month, where South Korea proposed a “July Package” aimed at eliminating newly imposed U.S. tariffs.
South Korea, which posted a \$66 billion trade surplus with the U.S. last year, has been particularly impacted by President Donald Trump’s 25% tariff on imported automobiles—a move that affects nearly half of South Korea’s car exports.
To counter these trade pressures, Seoul is hoping to negotiate tariff exemptions by increasing U.S. LNG purchases and enhancing cooperation in the shipbuilding industry, a strategic sector for both nations.
On Friday, Greer also met with Chung Ki-sun, vice chairman of HD Hyundai, which operates South Korea’s largest shipbuilder. This marks the first time a U.S. trade official has engaged directly with the Korean shipbuilding sector. Talks included potential collaboration with U.S. shipbuilder Huntington Ingalls Industries.
Later in the day, Greer is also scheduled to meet the CEO of Hanwha Ocean, a key partner in U.S. Navy vessel maintenance.
The market responded positively, with Hanwha Ocean shares rising nearly 3%, and HD Hyundai Heavy Industries up by 3.6% in early trading.
Washington had announced additional tariffs of up to 25% on South Korean goods last month but postponed enforcement until July to allow for ongoing negotiations.
