The Presidential Office said Wednesday that policy chief Kim Yong-beom and Industry Minister Kim Jung-kwan will depart for Washington on Thursday to continue tariff negotiations with the United States, describing the trip as “an effort to achieve meaningful progress" ahead of the Asia-Pacific Economic Cooperation(APEC) summit.

National Security Adviser Wi Sung-lac told reporters that both sides recognize “the need to make headway before the leaders’ meeting,” noting that the two sides had reached a broad understanding during previous negotiations but had been unable to resolve details.

He said the upcoming visit aims to seek “compromise points” based on the positions exchanged during Kim Jung-kwan's earlier trip.

Presidential spokesperson Kang Yu-jung added that meetings are planned with U.S. Commerce Secretary Howard Lutnick and other senior officials to discuss tariff adjustments and South Korea's pledged $350-billion investment package.

Washington is insisting that funds be used for direct investment, but Seoul fears that capitulating could strain Korea’s foreign exchange markets and has countered with a revised plan that includes a Korea–U.S. unlimited currency swap and more flexible investment mechanisms.

Earlier this week, the presidential office confirmed that the U.S. had responded to South Korea’s counter, raising hopes that the two sides could make tangible progress before the APEC summit in Gyeongju later this month.