South Korea's Industry Minister Kim Jung-kwan and top trade envoy Yeo Han-koo will meet U.S. Commerce Secretary Howard Lutnick in Washington again on Friday in a bid to move closer to a deal on tariffs,

Samsung boss Jay Y. Lee is heading off to the US to join South Korea in trade talks with the Trump administration.

The US and South Korea have discussed creating a fund to invest in American projects as part of a trade deal, similar to an agreement Japan struck Tuesday with President Donald Trump, people familiar with the matter said.

The two sides will reschedule the meeting between Treasury Secretary Scott Bessent and South Korean Finance Minister Koo Yun-cheol, as well as the top trade envoys of both countries, as soon as possible,

The proposal was reportedly presented by Korea's Trade, Industry and Energy Minister Kim Jung-kwan during high-level discussions with US Commerce Secretary Howard Lutnick in New York last Friday.

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.

High-level trade talks between South Korea and the United States were abruptly canceled due to scheduling conflicts involving U.S. Treasury Secretary Scott Bessent, South Koreas Ministry of Finance announced Thursday.

Asian shares are mostly lower as some of the euphoria fizzles out over a tariff deal with Japan as proposed recently by President Donald Trump.