A South Korean delegation will meet U.S. counterparts on Thursday for an opening round of trade talks, with cooperation on shipbuilding and energy expected to be on the agenda, and possibly shared defence costs,

SEOUL/WASHINGTON (Reuters) -South Korea and the United States agreed to craft a package of deals aimed at removing new U.S. tariffs before the pause on reciprocal tariffs are lifted in July, Seoul's delegation said after the first round of trade talks in Washington.

South Korea’s economy contracted in the first quarter after large-scale wildfires and political turmoil over its president’s impeachment suppressed consumer sentiment and business activities.