South Korea's Industry Minister Kim Jung-kwan and top trade envoy Yeo Han-koo will meet U.S. Commerce Secretary Howard Lutnick in Washington again on Friday in a bid to move closer to a deal on tariffs,

Samsung boss Jay Y. Lee is heading off to the US to join South Korea in trade talks with the Trump administration.

The proposal was reportedly presented by Korea's Trade, Industry and Energy Minister Kim Jung-kwan during high-level discussions with US Commerce Secretary Howard Lutnick in New York last Friday.

South Korea's new finance minister and the country's top trade envoy will meet in Washington with U.S. counterparts on Friday for talks on U.S. tariffs, Finance Minister Koo Yun-cheol said on Tuesday.

South Korea is seeking trade concessions, including on tariffs and non-trade barriers, in return for accepting the U.S. request to recalibrate the USFK’s strategic posture.

The US and South Korea have discussed creating a fund to invest in American projects as part of a trade deal, similar to an agreement Japan struck Tuesday with President Donald Trump, people familiar with the matter said.

South Korea and the United States have been discussing a shipbuilding tie-up that could include investments to modernise U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms,

US tariff negotiations with key trading partners have shifted into high gear as economies race to avoid steeper duties before an August 1 deadline.The twice-postponed deadline for duties to take effect is now Friday,