Seoul: South Korea has significantly reduced differences with the United States in ongoing tariff negotiations, with only a few key issues remaining unresolved. A senior presidential aide disclosed these developments, emphasizing South Korea's commitment to finalizing a deal with the United States in a manner consistent with national interests.
According to Yonhap News Agency, Kim Yong-beom, the presidential chief of staff for policy, shared these insights as he prepared to leave for Washington for further tariff discussions. Accompanied by Industry Minister Kim Jung-kwan, Kim's trip comes shortly after their recent return from talks with U.S. Commerce Secretary Howard Lutnick and other officials.
Kim highlighted that while substantial progress has been made on many critical issues, a few areas still require further negotiation. "I am returning to (Washington) to work toward settling those issues in a way that serves our national interests," Kim remarked to reporters at Incheon International Airport before departing.
The tariff negotiations are part of a broader framework deal established in July, which includes a US$350 billion investment package aimed at reducing U.S. tariffs on South Korean goods. Both nations have shown optimism about reaching an agreement before the Asia-Pacific Economic Cooperation (APEC) summit in South Korea next week, where South Korean President Lee Jae Myung and U.S. President Donald Trump are expected to meet.
Despite the looming summit, Kim clarified that South Korea is not willing to settle for a partial agreement. "We are not considering an MOU based on a partial agreement that leaves critical issues unresolved simply to meet a specific timeline, such as the APEC summit," he stated.
Discussing the potential for a joint statement by the two leaders during the APEC or the upcoming South Korea-U.S. summit, Kim suggested that such an outcome could be anticipated if the trade negotiations conclude favorably for both countries. President Trump has previously indicated that the US$350 billion investment would be provided "up front," whereas South Korean officials have advocated for financial safeguards, including a currency swap arrangement, to ensure the investment finances projects rather than constituting a direct cash payment.