South Korea, U.S. Report Partial Progress in $350B Trade Talks

South Korea and the United States are in the final stages of negotiations over the implementation of Seoul's $350 billion investment pledge under a bilateral trade deal reached in July. Kim Yong-beom, South Korea's presidential chief of staff for policy, indicated that while significant progress has been made, some sticking points remain unresolved, and the negotiations are not yet concluded. Both countries have engaged in multiple rounds of talks, including extended discussions with U.S. Commerce Secretary Howard Lutnick, aiming to bridge differences over funding details and tariff reductions on South Korean autos. The trade deal includes a reduction of U.S. tariffs on South Korean automobiles from 25 percent to 15 percent, contingent on Seoul's investment commitments. The upcoming Asia-Pacific Economic Cooperation (APEC) summit in Korea is viewed as an important moment for potentially concluding the negotiations. Despite the cautious tone, the continued meetings suggest a constructive and productive negotiation process focused on protecting South Korea's national interests.