Tariff deal and Cabinet rollout define early Lee presidency

In a high-stakes early test of leadership, President Lee Jae-myung reached a last-minute tariff deal with the U.S., averting sharp hikes on U.S.-bound Korean exports. The agreement lowered auto and reciprocal tariffs from 25% to 15%, with further implementation details expected following a bilateral summit in mid-August.

In parallel, the Lee administration finalized its inaugural cabinet lineup. The 19-member team includes eight sitting National Assembly members, alongside technocrats and private-sector leaders—reflecting a focus on administrative operability and sectoral expertise amid a fast-moving policy environment.

For a full analysis of the U.S.-Korea tariff agreement and key takeaways from Lee’s cabinet appointments, read GR Korea’s latest newsletter below.