Seoul: Top South Korean negotiators are set to return home following crucial follow-up tariff discussions with the United States in Washington. This comes as both nations engage in intensive talks to address the $350 billion investment commitment pledged by Seoul, the presidential office announced Thursday.
According to Yonhap News Agency, Kim Yong-beom, the presidential chief of staff, and Industry Minister Kim Jung-kwan are scheduled to arrive in Seoul early Friday. Their visit to Washington included a meeting with U.S. Commerce Secretary Howard Lutnick on Wednesday, U.S. time. The recent discussions primarily centered on the specifics of the financial arrangements linked to the investment pledge. This pledge is associated with a preliminary agreement from July, which aimed to reduce U.S. tariffs on Korean goods from 25 percent to 15 percent.
The talks occur ahead of U.S. President Donald Trump's anticipated visit to South Korea for the upcoming Asia-Pacific Economic Cooperation summit. While in Washington, the presidential policy chief mentioned "partial progress" in the trade discussions but indicated that certain issues remain unresolved, suggesting that a final decision might need to be addressed at a higher level.
Upon their return, the South Korean officials are expected to brief President Lee Jae Myung on the latest outcomes of the negotiations and deliberate on the government's subsequent steps.