Seoul: South Korea and the United States have agreed to establish working-level consultative bodies aimed at enhancing bilateral cooperation in the shipbuilding and energy sectors, as well as for discussions on Washington's new tariff scheme, announced Seoul's Industry Minister Ahn Duk-geun. This marks South Korea as the first nation to initiate such collaborative efforts with the current U.S. administration regarding tariff negotiations and bilateral cooperation.
According to Yonhap News Agency, Industry Minister Ahn Duk-geun elaborated on this development during a press briefing following his recent visit to Washington. He noted that the channels will commence operations as soon as possible. The countries plan to create four distinct channels to address shipbuilding collaboration, energy cooperation-which includes South Korea's potential involvement in the Alaska liquefied natural gas (LNG) project-as well as tariffs and non-tariff barriers.
Director-level consultative bodies are set to start functioning this week, and there is a possibility that the trade minister might visit Washington for direct talks with U.S. officials as early as next week. Ahn emphasized that trade officials from both nations would be in constant communication. The agreement was reached during Ahn's three-day trip to Washington, where he met with key U.S. officials, including Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and U.S. Secretary of Interior Doug Burgum, to discuss the Trump administration's new tariff policy.
Ahn's visit occurred amid rising concerns over the U.S. government's plan to impose 25 percent tariffs on all steel and aluminum imports and the potential introduction of reciprocal tariffs on trade partners. He stressed the importance of opening a negotiation channel with the U.S., describing the ongoing discussions as a marathon rather than a single-round match.
The minister highlighted South Korea's growing industrial ties with the U.S., which have included significant corporate investments in America, while its economic linkages with China have been decreasing. Ahn conveyed the necessity for consistency in U.S. policies to ensure the successful continuation of South Korean companies' investments, referencing the U.S. CHIPS Act and the Inflation Reduction Act.
Additionally, Ahn expressed South Korea's interest in joining the gas pipeline development project in Alaska, a key initiative of the Trump administration, as part of efforts to boost energy imports from the U.S. and reduce its trade surplus. He also mentioned that Washington's trade officials welcomed his proposal for Korean shipbuilders to manufacture warships, tankers, and icebreakers for the U.S. under preferential terms, as a means to strengthen bilateral cooperation in the shipbuilding sector.