The South Korean won fell to around 1,390 per dollar on Tuesday, retreating from earlier gains as the US dollar strengthened following a favorable trade deal finalized with the EU. While several major economies have already secured agreements with Washington, Seoul is working urgently to maintain active participation in the negotiations, aiming to ease a looming 25% reciprocal tariff and various sector-specific duties on South Korean exports. Seoul’s efforts include a major investment proposal in the US shipbuilding industry. In light of Japan’s recently confirmed 15% tariff deal, pressure is mounting for Seoul to match or exceed its terms. President Donald Trump has warned that countries without a deal by Friday could expect to face tariffs ranging from 15% to 20%. Ahead of the deadline, Finance Minister Koo Yun-cheol will meet with US Treasury Secretary Scott Bessent in Washington on Thursday, followed by Foreign Minister Cho Hyun’s talks with Secretary of State Marco Rubio.
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