South Korea's top trade minister expressed on Sunday that he will raise concerns about potential US restrictions on chipmakers in China when he meets US officials in Washington this week for the third round of technical discussions in tariff talks.
According to the reports, Yeo Han-koo told reporters, “I will pass on the concerns among those in the industry and take atmost care," before leaving for Washington, when asked to comment about concerns the US may adopt policies to make it difficult for foreign chipmakers to operate in China.
Yeo added, Seoul may continue suggesting talks beyond July 8 amid political and economic uncertainties in the US.
Yeo, who was appointed to the role this month by President Lee Jae Myung, after winning a snap election on June 3, said during his campaign that there was no need to rush into a trade agreement with the United States.
South Korea to craft a trade deal reducing tariffs by July 8, which is currently subject to a blanket 10 percent tariff with a 25 percent country-specific duty on pause for 90 days, as agreed with the US in their opening round of trade talks in late April.
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On Sunday, Yeo added he would reach out to officials at the White House and the US Congress to discuss various trade issues, including Washington's request for South Korea to loosen rules on imports of US beef. The outcome of these negotiations will be pivotal for South Korea’s semiconductor industry and broader trade relations.