TechFlow, April 20 — South Korea's acting president Han Duck-soo said in a recent interview with the UK's Financial Times that South Korea will not "retaliate" against U.S. tariff policies, citing Seoul's historical responsibility toward Washington.
Han emphasized that the United States provided aid, technology transfer, investment, and security guarantees to South Korea after the Korean War, enabling the country's industrial strength, financial development, and cultural growth.
In response to the Trump administration's decision this month to impose 25% "reciprocal" tariffs on South Korea, Han stated that South Korea will seek "solutions more beneficial to both sides," rather than treating the U.S. move as something requiring retaliation.
To ease trade tensions, Han proposed that South Korea is willing to discuss measures to reduce its trade surplus with the U.S., including purchasing American liquefied natural gas and commercial aircraft, as well as enhancing cooperation in naval vessel construction. He also indicated Seoul’s willingness to discuss non-tariff trade barriers in South Korea.
Notably, South Korea’s trade surplus with the U.S. is projected to reach a record $55 billion in 2024, and the U.S. has replaced China as South Korea’s largest export destination. Leading South Korean conglomerates are investing tens of billions of dollars to build advanced semiconductor, electric vehicle battery, and solar panel manufacturing plants in the U.S.
U.S.-South Korea trade talks are expected to begin next week. Trump has clearly stated he will link trade and security issues, including "paying for the military protection the U.S. provides to South Korea." Regarding this, Han said there is currently no "clear framework" for discussing security matters, but South Korea is open to resuming negotiations on cost-sharing agreements with the U.S. depending on circumstances.
