Overview

• South Korea and the U.S. agreed to work toward a comprehensive 'July package' to address tariffs and economic cooperation by July 8, when the 90-day tariff moratorium ends.
• Finance Minister Choi Sang-mok confirmed reduced uncertainty and a clear schedule for future negotiations after returning from Washington talks.
• Both sides emphasized calm and orderly consultations, with South Korea explaining its domestic political timeline, including the June 3 presidential election and National Assembly coordination.
• Foreign exchange issues will be addressed through direct and regular communication channels between the two nations' financial authorities.
• South Korea faces a 25% reciprocal tariff under current U.S. measures, intensifying the urgency for exemptions and economic relief.