Menu Content
Go Top

Politics

Finance Minister Denies USFK Budget Up for Discussion in Trade Talks with US

Written: 2025-04-16 14:45:10Updated: 2025-04-16 16:20:29

Finance Minister Denies USFK Budget Up for Discussion in Trade Talks with US

Photo : YONHAP News

Anchor: Responding to a lawmaker’s question on Tuesday, Finance Minister Choi Sang-mok denied that the defense cost-sharing deal between South Korea and the U.S. is up for renegotiation. After acting President Han Duck-soo spoke over the phone with U.S. President Donald Trump last week, a social media post from Trump gave rise to speculation that the two countries might link defense costs with trade talks in a “package deal” before the tariff reprieve ends. But Choi said Han made no concessions during the phone call.
Kim Bum-soo has more.

Report: Finance Minister Choi Sang-mok says the government has no plans to renegotiate defense cost-sharing arrangements as part of its trade talks with the U.S.

The minister revealed the stance Tuesday during a parliamentary interpellation session, saying the matter is not under review at the moment.

[Sound bite: Deputy PM and Finance Minister Choi Sang-mok (Korean-English)] 
“We are not considering defense cost-sharing negotiations now.”
(Rep. Kim Seung-won: Are you positive?)
“Yes.”

During the session, Choi also denied that acting President Han Duck-soo promised concessions during his phone talks with U.S. President Donald Trump last week. 

[Sound bite: Deputy PM and Finance Minister Choi Sang-mok (Korean-English)] 
"What concessions could be made in 30-minute phone talks?”

After the phone call, Trump said on his Truth Social platform that the two leaders discussed payment for the “big time Military Protection” the U.S. provides for South Korea, as well as tariffs and other issues.

Trump went on to suggest that his administration will pursue package deals with its trading partners in a process he likened to one-stop shopping.

[Sound bite: Deputy PM and Finance Minister Choi Sang-mok (Korean-English)] 
(Rep. Kim Seung-won: How much in the world did we give them?)
“There were never any concessions made. I am aware of the discussions. I think this has to do with the Trump administration and President Trump’s communication style."

But Seoul’s future course of action is uncertain as the Trump administration continues to baffle its trading partners with its on-again, off-again tariff initiative. 

Trump put a 90-day hold on all reciprocal tariffs, and according to the Wall Street Journal, during that time U.S. Treasury Secretary Scott Bessent is prioritizing South Korea, the United Kingdom, Australia, India and Japan as prospects for new trade deals.

Finance Minister Choi will meet with Bessent next week on the sidelines of the G20 finance ministers meeting in Washington.
Kim Bum-soo, KBS World Radio News.

Related News

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >