Lutnick Calls Kim Junggwan "Tough"... President Lee: "An Excellent Negotiator From Our Perspective"

Lee Shares U.S.-Korea Summit Anecdotes at Cabinet Meeting
"Lutnick Said Kim Was Extremely Exhausting to Negotiate With"
Kim: "Lutnick Is No Pushover Either"
Kim: "Oil Price Cap System Is Stabilizing Prices"

On the 29th, President Lee Jaemyung praised Minister of Trade, Industry and Energy Kim Jeonggwan as "an exceptionally skilled negotiator from our perspective." He shared a story that Howard Lutnick, the U.S. Secretary of Commerce whom he recently met in New York, described Minister Kim—who has led negotiations over investments in the U.S.—as a "tough" and challenging counterpart. With final-stage strategic investment negotiations between Korea and the United States underway, President Lee effectively lauded Minister Kim's negotiation skills in public by quoting his American counterpart.

Yonhap News Agency

During a cabinet meeting held at the presidential office on the same day, President Lee said to Minister Kim, "I had the chance to briefly talk with Secretary Lutnick, and he told me that our minister is extremely exhausting to deal with." He went on to say, "You’ve done a great job," and added, "He also said you’re tough."

President Lee remarked, "It seems you were a very difficult counterpart," and added, "From our perspective, that makes you an excellent negotiator." In response, Minister Kim replied, "Secretary Lutnick isn’t exactly easy to deal with either."

Minister Kim and Secretary Lutnick have been the main counterparts in negotiations on various economic and trade issues between the two countries, including Korea’s strategic investments in the U.S. Last year, Minister Kim disclosed his extensive negotiations with Secretary Lutnick, who has a Wall Street background, saying he is "truly tough."

Recently, President Lee held a summit meeting with U.S. President Donald Trump on the occasion of the United Nations General Assembly, agreeing to accelerate the implementation of major agreements between the two countries based on progress in strategic investment consultations. At the cabinet meeting, the Ministry of Foreign Affairs also reported that, as a follow-up to the summit, the country would expedite the implementation of agreements related to strategic investment negotiations with the U.S.

Meanwhile, on the subject of the oil price cap, President Lee requested Minister Kim to explain claims that domestic oil prices are not falling despite a global decline. Minister Kim explained, "We are maintaining the price cap reliably even at high price levels." He further stated, "Although prices are higher than before the war, the effect is noticeable compared to other countries, and there are even nations considering introducing a price cap system."

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