Pakistan, July 26 -- South Korea has announced plans to create a new trade package with the United States before the August 1 tariff deadline. The move comes as both countries aim to ease trade tensions and boost cooperation across key industries.

The South Korean presidential office confirmed on Saturday that officials are preparing a "mutually agreeable" trade package. This announcement comes ahead of several high-level meetings scheduled next week between U.S. and South Korean ministers. The talks are expected to focus on preventing the re-imposition of U.S. tariffs.

A major part of the deal includes shipbuilding cooperation, which is of strong interest to U.S. Commerce Secretary Howard Lutnick. He discussed the issue on Friday with ...