Seoul Says US FTA Stands After 15% Tariff Deal, Starts FX Talks

South Korean Finance Minister Koo Yun-cheol said the country’s free-trade agreement with the United States remains in force even after Seoul accepted a 15% US tariff on its exports—lower than the 25% originally proposed—in return for a US$350 billion South Korean investment package. He told lawmakers that most zero-tariff benefits under the accord are intact and that nations without a bilateral FTA will continue to face higher duties. Koo added that Washington has given written assurances that South Korea will not be treated less favorably than any other country should the US move ahead with additional tariffs targeting semiconductors, pharmaceuticals or other strategic goods. The commitment aims to allay concerns among Korean manufacturers about possible competitive disadvantages in the US market. The minister also confirmed ongoing discussions with US financial authorities on foreign-exchange policy. While declining to detail the talks, he reiterated that the won–dollar rate "should in principle be determined by markets," signaling Seoul’s intent to avoid direct intervention except to stabilize excessive volatility.