Overview

• President Lee met U.S. Treasury Secretary Scott Bessent in New York and reiterated that any deal must be commercially rational and serve both countries’ interests.
• Seoul is seeking a bilateral foreign‑exchange swap with an unlimited credit line as a safeguard against currency strain from the planned investment package.
• Washington has maintained that cutting tariffs to 15 percent, including on autos, will take effect only after a written pact, leaving Korean carmakers at a disadvantage for now.
• Talks remain hung up on structure: U.S. negotiators favor upfront equity-style investments while Seoul prefers loans and guarantees to limit cash outflows.
• Finance Minister Koo held separate talks with Bessent, and the presidential office set a target to conclude negotiations before next month’s APEC summit.