The two sides will reschedule the meeting between Treasury Secretary Scott Bessent and South Korean Finance Minister Koo Yun-cheol, as well as the top trade envoys of both countries, as soon as possible,

South Korea pushes for mutually beneficial US deal, aiming to avoid steep tariffs and expand shipbuilding cooperation.

US President Trump stated his administration aims to finalise most trade deals by August 1, potentially sending tariff letters to nearly 200 countries.