▲ 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)

Bessent-Korea-trade deal

U.S. about to 'finish up' trade negotiations with S. Korea: Bessent

By Song Sang-ho

WASHINGTON, Oct. 15 (Yonhap) -- The United States is about to "finish up" trade negotiations with South Korea, Treasury Secretary Scott Bessent said Wednesday, as Seoul and Washington have been striving to hash out details of Korea's US$350 billion investment commitment under a bilateral trade deal struck in July.

Bessent made the remarks during a CNBC forum, responding to a question about which trade negotiations beyond China are occupying much of his attention lately.

"I think we are about to finish up with Korea," he said.

He added, "As I said, the devil is in the details, but we are ironing out the details."

He did not elaborate on the details, but a major bone of contention concerns Korea's investment package.

Under a framework trade deal, Seoul has committed to investing $350 billion in the United States, among other pledges, in return for Washington's agreement to lower its "reciprocal" tariff and auto tariff on South Korea both to 15 percent from 25 percent.

But the deal has yet to go into force as the two sides have been struggling to narrow differences over a range of issues, including about how to fund Korea's investment package and how to share profits from it.

Bessent's remarks on the negotiations with Korea raised speculation that Seoul and Washington are nearing an agreement over the investment package and other trade issues.

Negotiations between Seoul and Washington are expected to pick up greater pace this week as top Seoul officials are set to visit the U.S. capital.

Kim Yong-bum, South Korea's presidential chief of staff for policy, and Industry Minister Kim Jung-kwan are set to visit Washington for talks with U.S. Commerce Secretary Howard Lutnick.

Finance Minister Koo Yun-cheol is also expected to meet with Bessent as he plans to attend meetings of the Group of 20 finance ministers, and the annual gatherings of the International Monetary Fund and World Bank in the U.S. capital this week.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]