[Editorial] Final say on deals with US should go to an elected administration, not Han

Acting President Han Duck-soo holds a roundtable on the auto industry at a Kia plant in Gwangju on April 15, 2025. (pool photo)

Trade negotiations with the US have suddenly picked up pace. During an interview with Bloomberg TV in Buenos Aires on Monday, US Treasury Secretary Scott Bessent said that the US is “moving quickly with many of our most important trading partners,” noting that negotiations with South Korea were slated for next week. 

On Tuesday, the Wall Street Journal reported that Bessent will be “prioritizing the UK, Australia, South Korea, India, and Japan as among his top targets for new trade deals.”

On Monday, South Korea’s acting president, Han Duck-soo, said that the government had “entered negotiations in earnest with the US government.” 

On Tuesday morning, there was a video conference between South Korean and US negotiators at the working-level regarding a liquified natural gas (LNG) project in Alaska that the US wants South Korean companies to participate in. 

There is a clear reason why the US is rushing to negotiate with South Korea: it wants to produce tangible results with allies like South Korea and Japan — relatively easy countries to deal with — to justify its trade war. During the Bloomberg TV interview, Bessent said, “I think there will be an advantage to our allies, especially a first-mover advantage. Usually, the first person who makes a deal gets the best deal,” effectively telling countries to get a move on. 

However, if we adjust our pace to match that of the US, there is a danger of caving to excessive demands placed by the US. On Monday, Japanese Prime Minister Shigeru Ishiba told parliament, “If you rush things, you lose out. We will do our best to take the time we need to elicit the best possible result.” This is an expected and reasonable attitude to take in regard to the current situation. 

The same goes with the LNG project in Alaska. The project, expected to cost over US$40 billion on development alone, still has no guarantees about profitability and notable firms have pulled out from the project before. If we commit to the project prematurely, we might be unable to find a domestic firm that is willing to front the initial cost, which will ultimately oblige the state to foot the bill. 

The worrying thing is Han’s attitude. Han said on Monday, “I will draw upon my extensive experience in trade as well as the personal networks I’ve built and commit myself to my final public duty.” 

If this “final public duty” is concluding trade negotiations, that is an improper thought. An acting president, someone who was not democratically elected, should not decide a matter that could affect the South Korean economy for years to come. 

Amid the current leadership vacuum caused by the ousting of Korea’s president, Han needs to adopt a strategy of deferring major decisions to the next president and satisfy himself with simply setting the table for negotiations that will be handled by the incoming administration. Han needs to realize that people are suspecting him of utilizing his negotiation efforts for personal political purposes. 

Please direct questions or comments to [english@hani.co.kr]