WASHINGTON — Presidential director of national policy Kim Yong-beom said there was “some progress” in trade negotiations with U.S. Commerce Secretary Howard Lutnick on Wednesday, but added that the talks were “not at the final stage.”
Kim made the remarks after holding a meeting with Lutnick alongside Industry Minister Kim Jung-kwan at the U.S. Department of Commerce in Washington.
“We discussed the remaining issues,” director Kim told reporters after the talks. “There was some progress, but we need to continue the discussions.”
Before the meeting, Kim said that the two sides were close to agreement on many topics, but still had “major differences” on one or two issues. After the meeting, he clarified, “There isn’t just one sticking point — I only mentioned one or two to indicate that the number isn’t large.”
Asked whether the negotiations had entered the final stage, Kim replied, “In negotiations, it’s not over until it’s over.”
Regarding the possibility of another in-person meeting before the APEC Economic Leaders’ Meeting, which will be held in Gyeongju starting on Oct. 31, Kim said, “It seems unlikely we’ll meet again in person. If necessary, we may have to hold a virtual meeting.”
He stressed, however, that the APEC meeting would be “an important occasion.”
During Wednesday’s meeting, both Kims reportedly focused on unresolved issues surrounding Korea’s proposed $350 billion investment package in the United States, including the ratio of cash investments and the timeline for financing. It was the first meeting between the Korean officials and Lutnick since Oct. 16.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
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