South Korea Faces Challenges in Sealing Trade Deal with U.S. Amid Political Transition

South Korea and the United States face difficulties finalizing a trade package amid South Korea's political transition. The acting president and pending snap elections hamper firm commitments. South Korea seeks exemptions from tariffs, offering cooperation in shipbuilding and energy to address U.S. trade priorities.

As South Korea prepares for a presidential election on June 3, a senior government official expressed doubts about finalizing a trade package with the United States before early July. The official cited the challenges posed by South Korea's current state of political transition.

The countries are negotiating to amend new U.S. tariffs before reciprocal tariffs resume on July 8. Analysts observe, however, that South Korea's acting president complicates any major commitments, particularly regarding energy projects and defense costs.

Vice Minister Park Sung-taek emphasized the difficulty of reaching a comprehensive deal in the near term, noting the special political conditions. Both nations are in urgent trade talks, as the U.S. aims to complete multiple agreements by July 8.

(With inputs from agencies.)