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.

The U.S. and South Korea had a "very successful" meeting on Thursday, Treasury Secretary Scott Bessent said, as the two countries opened trade talks with Seoul seeking a path to diminish the stiff tariffs President Donald Trump is angling to impose.

The US and South Korea could reach an “agreement of understanding” on trade as soon as next week, Treasury Secretary Scott Bessent said Thursday, following talks between the two nations.