South Korean Finance Minister Koo Yun-cheol said on Tuesday he would seek a mutually beneficial trade deal when he meets U.S. Treasury Secretary Scott Bessent for talks this week, just days before an August 1 deadline expires to avoid punishing tariffs.

South Korea and the United States will continue negotiations to reach a tariff deal before the hefty reciprocal duties take effect on Aug. 1, with key issues, such as investment and agricultural market access,

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.