South Korea: New finance minister vows swift trip to Washington for tariff negotiations

Seoul, July 21 (IANS) Newly appointed Finance Minister Koo Yun-cheol on Monday pledged to prioritise national interest and practical outcomes in upcoming tariff negotiations with the United States, saying he will seek to visit Washington at the earliest date possible.

Koo said discussions are ongoing to finalise the schedule for his visit, with less than two weeks remaining before the August 1 deadline for the tariff negotiations with the Donald Trump administration.

"I plan to meet (with US officials) at the earliest opportunity to explain South Korea's position and seek understanding, so that the negotiations will proceed in a manner aligned with our national interest and practical needs," Koo told reporters.

Koo also cited price stabilisation, particularly for daily necessities impacted by recent flood damage, as a short-term priority, Yonhap news agency reported.

Meanwhile, Koo also stressed the importance of innovation and collaboration, pledging to lead the Ministry of Economy and Finance through a transformative period

"Let us become icons of innovation," Koo said in his inauguration address, urging ministry officials to integrate innovative ideas into their work to produce tangible results.

Koo also underscored the need for enhanced cooperation and convergence with related ministries, as well as a problem-solving mindset.

The minister added that employees who come up with creative ideas will be given exceptional rewards, emphasizing the ministry's commitment to fostering a culture of innovation.

--IANS

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