South Korea, facing 25% tariffs, is rushing to reach a trade deal with Washington, with National Security Adviser Wi Sung-lac visiting the U.S. recently for high-level talks and Minister for Trade Yeo Han-koo also in the U.S. for negotiations, as pressure grows on officials to clinch a deal that is no worse than Japan's that cut tariffs to 15%.

South Korea will prepare a trade package that is mutually agreeable with the United States ahead of minister-level meetings planned next week and a U.S. tariff-pause deadline of August 1, the presidential office said on Saturday.

US President Trump stated his administration aims to finalise most trade deals by August 1, potentially sending tariff letters to nearly 200 countries.