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S. Korea, US Inch Closer to Tariff Deal before Trump's APEC Visit

Written: 2025-10-20 14:33:12Updated: 2025-10-20 16:06:14

S. Korea, US Inch Closer to Tariff Deal before Trump's APEC Visit

Photo : YONHAP News

Anchor: Director of National Policy Kim Yong-beom said “substantial” progress had been made on most key issues during recent follow-up tariff negotiations with the United States. Speaking to reporters at Incheon International Airport upon his return from the U.S. on Sunday, Kim said the discussions had taken place in a “serious and constructive” atmosphere.
Kim Bum-soo has more. 

Report: The South Korean presidential office's policy director says Seoul and Washington might be able to conclude their tariff deal this month. 

[Sound bite: Kim Yong-beom - Dir. National Policy, Presidential Office (Korean-English)]
"The likelihood of a deal being reached on the occasion of APEC seems higher than it was before this visit to the U.S. However, as I mentioned earlier, while there's considerable agreement on most issues, one or two remaining issues require further coordination. Upon returning home, we will review these issues in depth with our ministries, further convey our position and engage in further negotiations."

Ahead of U.S. President Donald Trump's planned visit to South Korea later this month, Director of National Policy Kim Yong-beom held talks with key U.S. officials over the weekend. 

[Sound bite: Kim Yong-beom - Dir. National Policy, Presidential Office (Korean-English)]
"There should be no impact on the South Korean foreign exchange market. And, as I've repeatedly stated, a negotiation proposal must be prepared within a range that South Korea can withstand. On this point, South Korea and the United States are reaching a much closer agreement than before."

In July, Washington agreed to lower its reciprocal tariffs on South Korea from 25 to 15 percent, and Seoul promised a massive investment worth 350 billion U.S. dollars. But the two sides have since struggled to decide how the investment package will be delivered. 

Among other contentions, Seoul proposed an unlimited currency swap deal with the U.S. to buffer the impact a massive outflow of dollars might bring to its currency market.

President Trump has stated multiple times that Seoul agreed to invest the funds "up front."

Kim, at the airport, declined to comment on recent media reports indicating that the two sides are exploring the idea of delivering the 350 billion dollars in the span of ten years.
Kim Bum-soo, KBS World Radio News.

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