Finance Minister Yoo Il-ho has met with the acting U.S. ambassador to South Korea and discussed ways to enhance bilateral cooperation ahead of U.S. Vice President Mike Pence’s trip to Seoul next week.

During a meeting with Marc Knapper and the head of the American Chamber of Commerce in Korea on Wednesday in Seoul, Minister Yoo said South Korea hopes to have constructive talks on foreign affairs, security, trade and economy during Pence’s visit from Sunday to Tuesday.

Yoo explained that Seoul is well aware of Washington's concerns regarding the growing U.S. trade deficit and promised efforts to strike a balance in bilateral trade through increased imports of U.S. shale gas.

The minister also explained the Seoul government will actively support South Korean companies for their investment in infrastructure in the U.S., while enhancing policies to ensure thorough implementation of the KORUS free trade agreement.