South Korea's Industry Minister Kim Jung-kwan and top trade envoy Yeo Han-koo will meet U.S. Commerce Secretary Howard Lutnick in Washington again on Friday in a bid to move closer to a deal on tariffs,

Less than two months into his presidency, South Korean leader Lee Jae Myung is facing an early diplomatic and economic test, as his top negotiators struggle to make headway in trade talks with the US before higher levies kick in next week.

Trade negotiations between South Korea and the U.S. have been delayed due to a scheduling conflict with the U.S. Treasury Secretary. As South Korea exhaustively attempts to create concessions to avoid significant tariffs,