Substantive' Progress Made On Most Issues In Tariff Talks With Us: South Korea Presidential Official

YEONGJONGDO/SEOUL, Oct. 19 (Bernama-Yonhap) -- A senior presidential official said Sunday "substantive" progress has been made on most issues in recent follow-up tariff talks with the United States, Yonhap News Agency reported.

Kim Yong-beom, presidential chief of staff for policy, made the remarks after meeting US Commerce Secretary Howard Lutnick and other US officials for the negotiations in Washington on Thursday.

"There was substantive progress on most of the issues," Kim told reporters at Incheon International Airport, west of Seoul, after returning home. "But there are areas that still need coordination."

"Based on the progress made from the consultations, (we) will make efforts so that the negotiations end smoothly and create a result that helps national interest."

When asked about whether the negotiations could end in time for the Asia-Pacific Economic Cooperation summit set to take place in South Korea at the end of the month, Kim said the possibility has increased, compared with before his US trip.

Kim, however, noted there are still "one or two" issues that require further negotiation.

Regarding whether discussions took place over South Korea's US$350 billion investment commitment to the US being possibly made over 10 years, he declined to discuss specific issues from the negotiations.

US President Donald Trump earlier said the investment would be made "upfront," while Seoul officials have argued the investment pledge was intended to finance projects rather than a cash payment and called for financial safeguards, such as a currency swap arrangement.

-- BERNAMA-YONHAP