South Korea Appoints New Trade Negotiator Amid U.S. Tariff Talks

South Korea has appointed former chief trade envoy Yeo Han-koo as its new top trade negotiator, aiming to address tariff negotiations with the U.S. The move is a priority for President Lee Jae-myung amid high tariffs on key industries, as the economy seeks a resolution with Washington.

South Korea has strategically appointed Yeo Han-koo as its top trade negotiator to navigate complex tariff discussions with the United States. According to the president's office, this decision is part of the country's broader plan to address and potentially reduce the high duties imposed by Washington.

Currently sitting at 25%, these tariffs, levied since April 2, represent one of the most significant economic challenges facing South Korea, especially during the leadership of newly elected President Lee Jae-myung. With the suspension of these duties set to expire in early July, South Korea seeks a diplomatic path to relief.

Yeo, previously engaged in critical trade discussions under President Moon Jae-in's leadership, brings extensive experience, including pivotal roles in the Korea-U.S. Free Trade Agreement talks and key steel negotiations. His recent tenure at the Peterson Institute for International Economics further adds a layer of expertise as South Korea enhances its economic strategy in the wake of recent policy shifts.

(With inputs from agencies.)