Seoul: The presidential chief of staff for policy, Kim Yong-beom, expressed optimism regarding the ongoing tariff negotiations with the United States. The discussions revolve around South Korea’s commitment to a US$350 billion investment. Kim’s comments came in response to U.S. Treasury Secretary Scott Bessent’s statement that the United States is nearing the conclusion of trade talks with Seoul. Kim and Industry Minister Kim Jung-kwan are set to travel to Washington for further discussions.

According to Yonhap News Agency, Kim highlighted the close communication between the U.S. Treasury, Commerce Department, and the Office of the U.S. Trade Representative. He made these remarks to reporters at Incheon International Airport before departing for Washington. The industry minister also mentioned that Seoul and Washington have made progress in resolving financial market issues.

Negotiations are expected to gain momentum this week as key South Korean officials, including Finance Minister Koo Yoon-cheol and Trade Minister Yeo Han-koo, prepare to meet with senior U.S. negotiators in Washington. Seoul has emphasized the importance of establishing a currency swap deal to prevent potential financial instability due to direct investments. South Korea has suggested that the majority of the investment should consist of credit guarantees and loans, with investment decisions being made based on commercial considerations.