Minister Kim Jung-Kwan: "U.S. Semiconductor Tariffs Being Discussed to Ensure No Less Favorable Treatment Than Competitors"

No Comment on Tariff Announcement Timing
U.S. Investment Projects to Be Finalized in September

Kim Junggwan, Minister of Trade, Industry and Energy, stated that discussions between South Korea and the United States on semiconductor tariffs being considered by the administration of U.S. President Donald Trump are proceeding based on the principle that South Korea should not receive less favorable treatment than its competitors.

Kim Junggwan, Minister of Trade, Industry and Energy, is answering reporters' questions as he departs for the United States through Terminal 2 departure hall of Incheon International Airport on the 1st. Photo by Yonhap News Agency

On the 3rd (local time), after the U.S. investment declaration ceremony held in Washington, D.C., Minister Kim told reporters, "During the tariff negotiations last October, the United States clearly stated that South Korean semiconductors would not be treated less favorably than those from competing countries," adding, "I believe we are continuing discussions in line with that principle."

When asked whether the South Korean government had recently conveyed its position to the United States regarding semiconductor tariffs, he referred to the joint fact sheet containing the agreement between the leaders of South Korea and the United States, as well as the memorandum of understanding (MOU) on investment in the U.S.

Minister Kim said, "The same applies to recent tariff issues under Section 301 of the Trade Act," and explained, "It is the consistent position of both the South Korean and U.S. governments to address these matters in line with the spirit of the fact sheet and the MOU." However, regarding the timing of the U.S. announcement on semiconductor tariffs, he said, "There has been no mention from the U.S. side."

Howard Lutnick, U.S. Secretary of Commerce, said the day before that tariffs on semiconductor products were under review, emphasizing that it would be a "selective and prudent tariff policy."

Previously, U.S. political media outlet Politico reported that the U.S. government is considering including not only semiconductors themselves but also finished products such as laptops that contain semiconductors in the scope of tariffs. If tariffs are expanded to cover finished goods, the impact on South Korean companies exporting semiconductors and electronic products could also increase significantly.

Regarding concerns that announcements of South Korean investment projects in the United States are being delayed, Minister Kim replied, "There are no major issues in particular," and clarified, "There is no change in our plan to complete the process within September after going through several domestic procedures."

When asked whether the U.S. side had requested South Korea to increase the amount of investment, he said, "It is a matter of national interest, and various discussions are exchanged during negotiations," declining to provide a specific answer.

This content was produced with the assistance of AI translation services.