South Korea will shape the US trade deal by learning from Japan.

South Korea announced it will reference Japan’s trade agreement as it finalizes the details of its trade deal with the United States. Finance Minister Koo Yun-cheol said, “We have an advantage because we know the outcome of Japan’s negotiations, so we can negotiate accordingly.”

However, Foreign Minister Cho Hyun emphasized that Seoul will not accept the same terms as Japan. While Japan’s agreement includes a $550 billion investment package, South Korea’s package is at the level of $350 billion.

With the Japan agreement, US automobile import tariffs were reduced from 25% to 15%, while South Korean manufacturers still continue to pay a 25% customs duty, which puts them at a disadvantage.

Koo stated that negotiations are ongoing with the US regarding the implementation methods of the investment package and the exchange rate policy.

He also said, “We will act in a way that will protect our national interests at the highest level.” The reason Seoul is moving slowly in negotiations is said to be because it is taking a tougher stance against US demands. Officials announced that they will prepare new strategies by October to adapt to changing global trade conditions.