Vice Minister Choi Sang-mok, who is also the Minister of Economy and Finance, understood US Treasury Secretary Scott Besant’s comment that major Asian countries want to finalize trade negotiations before elections as an internal statement directed towards the US. Vice Minister Choi expressed this understanding during a full meeting of the National Assembly’s Strategy and Finance Committee on the 30th, stating, “I was surprised by the remarks yesterday, so I looked up the original and realized it was intended for domestic purposes at the 100-day inauguration press conference.”
He added that a request had been made to the US Treasury to explain the context of the statement. In response to a concern from Kim Tae-nyeon, a member of the Democratic Party of Korea, that talks with the US were being expedited, Vice Minister Choi explained, “It’s not about rushing; it’s because we received a 90-day grace period,” and noted that the pace is not fast.
He also emphasized, “There is no reason to draw any conclusions before the presidential election.” Secretary Besant, during a briefing at the White House on the 29th (local time), mentioned the possibility of delays in negotiations due to elections in South Korea and Japan, stating, “The governments of these countries want to establish the basic framework of trade negotiations before the elections to show successful negotiations with the US.”
In response, the Ministry of Economy and Finance clarified through a joint explanation document that they had not conveyed or discussed the intent to finalize the framework of negotiations before the elections with the US. They added that in the “2+2 trade talks,” the South Korean government explained the need to consider Korea’s political situation and communication with the National Assembly in future negotiations and reaffirmed their stance to proceed with discussions without haste and according to procedures.