Mar 7 • 03:25 UTC 🇰🇷 Korea Hankyoreh (KR)

[Exclusive] Ahead of the Decision on the ‘301 Investigation’... Minister of Industry and the Head of Trade Headquarters Make All-Out Efforts in the U.S.

South Korea's Minister of Industry and Trade, Kim Jeong-kwan, and the Head of the Trade Negotiation Headquarters, Yeo Han-gu, are in the U.S. negotiating to prevent the initiation of a 301 investigation regarding trade issues.

In a crucial diplomatic effort, South Korea's Minister of Industry and Trade, Kim Jeong-kwan, along with Yeo Han-gu, the Head of the Trade Negotiation Headquarters, traveled to Washington D.C. on May 5 to persuade U.S. officials to halt a looming 301 investigation tied to Coupang and its digital service policies. The U.S. Trade Representative (USTR) is expected to announce whether to proceed with the investigation into allegations that South Korean policies discriminate against U.S. companies on May 7, putting pressure on these high-ranking officials to act decisively before this deadline.

During their visit, Kim and Yeo met with key U.S. officials, including Treasury Secretary Howard Lutnick and USTR representative Jamieson Greer, to present the South Korean government's position. This visit, perceived as a last-ditch effort before the USTR's decision, is particularly focused on the allegations brought forth by Coupang investors, who claim that South Korean regulations adversely affect American enterprises. The USTR is currently reviewing a range of issues—including digital service taxes and online platform regulations—indicating that the investigation could extend beyond just Coupang's case.

Concerns have been raised regarding the U.S. government's view of the situation, with speculations suggesting that it may not consider the Coupang issue a high priority. Should a formal investigation occur, it could significantly strain U.S.-South Korea trade relations, prompting the South Korean government to prioritize its diplomatic engagements. Yeo emphasized the necessity of avoiding targets under Section 232 and 301 investigations to protect the bilateral trade dynamics, most likely affecting a broad spectrum of digital regulations beyond the immediate concern of Coupang's regulations.

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