SEOUL: South Korea's Industry Minister Kim Jung-kwan headed to Washington on Wednesday for talks with senior U.S. officials on trade and investment cooperation, as Seoul braces for a U.S. announcement of additional tariffs under Section 301 of the Trade Act.
The visit precedes an expected U.S. decision on an investigation into trade practices linked to forced labour, which local media said could raise tariff pressure on South Korean exports.
Kim will visit Washington from July 22 to 25 and meet U.S. Commerce Secretary Howard Lutnick to discuss strategic South Korean investment in the United States and other bilateral issues, the Ministry of Trade, Industry and Resources said.
He is also scheduled to meet U.S. Energy Secretary Chris Wright and other administration officials to discuss cooperation on resources and energy, while reaching out to members of Congress on trade and investment issues, the ministry said.
Speaking before his departure, Kim said the main purpose of the trip was to attend Thursday's opening ceremony for a South Korea-U.S. Shipbuilding Partnership Center in Washington.
The ceremony follows a May agreement between the ministry and the U.S. Commerce Department on a bilateral shipbuilding partnership initiative. Kim said the centre would provide an official platform for cooperation between shipbuilders in the two countries.
Kim said he would also work to further specify investment projects linked to a South Korean law that took effect in June to support strategic investment in the United States.
Seoul would work to implement tariff agreements with Washington and keep bilateral trade relations stable, Kim said.- Reuters
