Rival political parties gave differing views on the outcome of Seoul and Washington's negotiation, which lowered U.S. reciprocal tariff from 25 percent to 15 percent in exchange for a 350 billion U.S. dollar investment pledge from Seoul.

The ruling Democratic Party(DP) welcomed the bilateral deal on Thursday, calling it a "valuable achievement" for the Lee Jae Myung administration's pragmatic diplomacy.

The ruling party assessed that the administration settled uncertainties surrounding the domestic economy while protecting food security by avoiding a further opening of the agricultural market to U.S. imports.

While assessing the 15-percent rate to be appropriate considering that the same rate applies to Japan and the European Union, the main opposition People Power Party(PPP) said Seoul's investment pledge of 450 billion dollars, including energy product purchase, is excessive.

The main opposition also raised concern that the domestic auto industry is expected to lose competitiveness after the sector-specific auto tariff, which until now has been zero percent for South Korea and two-point-five percent for Japan, rose to 15 percent for both countries.