During a meeting on Thursday between Bessent, U.S. Trade Representative Jamieson Greer, South Korean Finance Minister Choi Sang-mok and South Korean Trade Minister Ahn Duk-geun, the officials agreed to "further productive discussions, including on currency policy," the Treasury said in a separate statement.

South Korea's Industry Minister Ahn Duk-geun said on Saturday that Seoul plans to approach trade talks with the United States "calmly and cautiously."

The Office of the US Trade Representative (USTR) said that South Korea and the United States agreed to seek "expedient and meaningful" progress toward "reciprocal and balanced" trade during a bilateral meeting in Washington the previous day.