Korea's finance minister said it remains uncertain whether U.S. President Donald Trump will be persuaded to drop his demand for an “upfront” payment of 350 billion U.S. dollars as part of the trade deal reached in July.

Finance Minister Koo Yun-Cheol said Thursday at the Washington headquarters of the International Monetary Fund(IMF) that though South Korea had conveyed concerns to Washington regarding Trump's demand, the U.S. is maintaining its demand for an immediate lump-sum payment.

He added that senior U.S. officials recognize the difficulty such a demand might pose to South Korea but that the most difficult task will be persuading Trump.

The finance minister met with U.S. Treasury Secretary Scott Bessent on Wednesday to convey Seoul’s concerns that the upfront payment could cause instability in South Korea’s foreign exchange market.

Koo said he asked Bessent to relay these concerns to other U.S. officials, including Commerce Secretary Howard Lutnick, and received a positive response. 

The minister said Bessent assured him that he would fully explain South Korea’s position.