U.S. Treasury Secretary Scott Bessent said the United States and South Korea can resolve their differences over how to implement Seoul’s 350 billion dollar investment pledge, hinting that an agreement could come "in the next ten days."
Bessent made the remarks to reporters in Washington on Wednesday when asked whether the two nations can bridge their differences regarding South Korea’s pledged investment package.
He said he is certain the differences can be resolved, that both sides are currently in discussions and that he expects progress within the next ten days.
When asked whether Washington could provide the currency swap arrangement Seoul has requested, Bessent stated that the issue falls under the authority of the U.S. Federal Reserve.
However, the secretary added that if he were chairing the central bank, then South Korea would already have a currency swap facility, just like Singapore.
In a separate interview with CNBC earlier in the day, Bessent said Washington is close to wrapping up trade negotiations with Seoul, noting that the two sides are ironing out the final structure of their agreement and that "the devil is in the details."