Seoul officials are scrambling in an all-out push to clinch a trade deal ahead of an Aug 1 deadline to avert punishing tariffs threatened by US President Donald Trump against the country’s key industrial exports to the US.

Koo’s plan to travel to Washington last week for talks with Bessent was postponed due to the US treasury chief’s scheduling conflict.

“Treasury secretary Bessent holds the important position of overseeing trade negotiations in the Trump administration,” Koo said in brief remarks to reporters.

“We will make the best effort to derive an agreement based on our national interest that would allow South Korea and the US to co-exist,” he said.

Koo said he would be joining industry minister Kim Jung-kwan and minister for trade Yeo Han-koo who have been holding talks with US officials including commerce secretary Howard Lutnick for an “all-out response”.