Overview

• U.S. Treasury Secretary Scott Bessent said he expects an announcement within about 10 days and noted currency swap decisions rest with the Federal Reserve, adding he was surprised Korea lacks a facility.
• South Korea dispatched its presidential policy chief and industry minister to Washington to meet U.S. officials, with the finance and trade ministers already in town for talks and agency coordination including the White House OMB.
• Talks focus on how to structure Seoul’s US$350 billion pledge, with Korea pushing loans and guarantees, limited equity and commercially guided allocations rather than a large upfront cash outflow.
• Seoul officials reported “meaningful progress” and said gaps have narrowed on foreign‑exchange safeguards as Washington shows greater understanding of the potential impact on Korea’s reserves and currency market.
• Both sides are working toward a conclusion tied to the late‑October APEC gathering in Gyeongju, where a Lee–Trump meeting is expected and could provide the moment for a formal announcement.