Overview
- Industry Minister Kim Jung-kwan held more than two hours of talks with Commerce Secretary Howard Lutnick in Washington, joined by presidential policy chief Kim Yong-beom and Trade Minister Yeo Han-koo.
- The Korean delegation also met White House OMB Director Russell Vought to discuss the proposed MASGA shipbuilding cooperation that forms part of the investment package.
- Treasury Secretary Scott Bessent said he expects an outcome within about 10 days, with further meetings taking place alongside the IMF and World Bank gatherings; he noted any swap line decision rests with the Federal Reserve.
- Outstanding issues include the funding mix for the $350 billion pledge, the design of foreign‑exchange protections such as a swap or alternative mechanism, profit‑sharing, and domestic approvals.
- Seoul seeks loans and guarantees with limited direct equity and an FX backstop, targeting a leaders’ announcement at the late‑October APEC summit, while Trump’s push for upfront cash remains a potential hurdle.