Particle.news
Download on the App Store
8 ARTICLES
·
2h ago

U.S.–South Korea Tariff Talks Advance as Seoul Sends Senior Officials to Washington

A new U.S. proposal on structuring Korea’s $350 billion investment shifts away from a single upfront cash demand.

File Photo: KIA Motors' vehicles are parked to be exported, at a port in Pyeongtaek, South Korea, July 31, 2025. REUTERS/Kim Hong-Ji/File Photo
U.S. Treasury Secretary Scott Bessent speaks as he and U.S. Trade Representative Jamieson Greer hold a press conference on the sidelines of the IMF and World Bank annual meetings in Washington, D.C., on Oct. 15, 2025, in this photo released by Reuters. (Yonhap)
Image
U.S. Secretary of the Treasury Scott Bessent delivers remarks during the Community Bank Conference at the Federal Reserve in Washington on Oct. 9, 2025, in this photo released by EPA. (Yonhap)

Overview

  • Korea’s policy chief Kim Yong-beom said negotiators have made “meaningful progress” after Washington offered an alternative implementation plan.
  • Treasury Secretary Scott Bessent said the sides are “about to finish up,” noting details are being ironed out during meetings in Washington this week.
  • Kim Yong-beom and Industry Minister Kim Jung-kwan are traveling Thursday for follow-up talks, including a planned session with Commerce Secretary Howard Lutnick.
  • The parties are working to finalize the package by the late October APEC leaders meeting in Gyeongju, though funding mechanics, safeguards, and profit-sharing remain unresolved.
  • Seoul continues to resist a lump-sum cash transfer, citing foreign-exchange and legal constraints, and prefers staged loans or guarantees with potential backstops such as a swap.