Presidential policy chief says 'positive' about tariff talks with U.S.

presidential aide-US trade talks

Presidential policy chief says 'positive' about tariff talks with U.S.

By Kim Eun-jung

SEOUL, Oct. 16 (Yonhap) -- The presidential chief of staff for policy, Kim Yong-beom, said Thursday he is "positive" about the prospect of follow-up tariff negotiations with the United States, as the allies have been in talks over details of South Korea's US$350 billion investment commitment.

Kim made the remarks when asked about comments by U.S. Treasury Secretary Scott Bessent that Washington is about to "finish up" trade negotiations with Seoul, as he and Industry Minister Kim Jung-kwan were set to depart for Washington for trade talks.

"I am positive," Kim replied, saying that the U.S. government -- including its Treasury, Commerce Department, and Office of the U.S. Trade Representative -- has been in "close communication" on the issue.

Kim spoke to reporters at Incheon International Airport, west of Seoul, before boarding his flight.

The industry minister said Seoul and Washington have "narrowed their differences" over financial market issues.

Negotiations between the two sides are expected to accelerate this week as top Seoul officials -- including Finance Minister Koo Yoon-cheol and Trade Minister Yeo Han-koo -- are scheduled to meet senior U.S. negotiators in Washington.

During trade negotiations with Washington, Seoul has demanded Washington establish a currency swap deal because such a direct investment without safeguards could trigger a financial crisis.

South Korea has proposed that most of the investment take the form of credit guarantees and loans and demanded its deciding investment destinations based on "commercial rationality."

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