South Korea Excludes Trade Agreement with US Ahead of Snap Election, Prioritizes LNG and Economic Cooperation

South Korea's Vice Industry Minister has assured that there is "no" possibility of clinching a deal on a trade package with the United States prior to the June 3 snap election. The news follows as both countries are set to hold working group meetings next week to discuss crucial issues, such as tariffs, economic security, and investment cooperation. Here is a comprehensive rundown:

 

Trade Negotiations:

Working Group Meetings:

LNG Project Feasibility:

Economic Security and Investment:

Geopolitical Context:

The snap election in South Korea complicates the negotiations, with political factors affecting the timing and scope of negotiations.

 

This trend underscores the issues and prospects of US-South Korea trade relations, as both countries deal with intricate geopolitical and economic situations.

 

Sources: Straits Times, Chosun Biz, Straits Times - Tariff Talks