South Korea "throws cold water": Impossible to reach a South Korea-US trade agreement before the June election.

South Korean Vice Minister of Industry Park Sung-taek said on Monday that due to the complexity of the issues involved and political uncertainty, South Korea does not believe it is possible to reach a comprehensive trade agreement with the United States before the presidential election on June 3. Park stated that the South Korean government will send a delegation to Washington this week for working-level talks to build on last week's progress, but reaching any comprehensive deal before early June is "theoretically impossible." U.S. Treasury Secretary Scott Bessent said last Thursday that following trade negotiations in Washington last week, the two countries could reach a "draft agreement" as early as this week. Bessent said that the negotiations are progressing faster than expected and there is hope to complete them before the final deadline of July 8 for tariffs to take effect. Park's remarks suggest that reaching a broader agreement will require more time, and the uncertainty of the outcome of the South Korean election has made the already unusual negotiation process even more complex. Park said at a press conference, "If you look at the timeline proposed by the U.S., there are only about 70 days left now. The U.S. also understands that our unique political situation could be a limiting factor." He stated that both sides have agreed to establish multiple working groups in areas such as tariffs, non-tariff barriers, economic security, investment, and exchange rates. The working-level delegations will focus on finalizing the details in these areas. U.S. Trade Representative Jamieson Greer will visit South Korea in mid-May to participate in the Asia-Pacific Economic Cooperation Ministerial Meeting, during which the trade ministers of both countries will hold talks. Park said that the issues to be discussed are wide-ranging, the negotiation format is "atypical," and Seoul needs to explore "unknown areas." He said, "Even following the schedule, it is difficult to achieve the results expected by U.S. President Trump within 70 days. Nevertheless, both countries will prioritize negotiations and strive to reach an agreement in July."