The two sides will reschedule the meeting between Treasury Secretary Scott Bessent and South Korean Finance Minister Koo Yun-cheol, as well as the top trade envoys of both countries, as soon as possible,

South Korea's presidential office says the package will include shipbuilding cooperation, a sector of high interest to US officials.

South Korea and the United States will continue negotiations to reach a tariff deal before the hefty reciprocal duties take effect on Aug. 1, with key issues, such as investment and agricultural market access,