Kim Yongbeom: "Substantial Progress in Korea-US Tariff Negotiations... Possibility of Agreement at APEC"

Kim Yongbeom, Chief of Policy Office, Returns from U.S. Visit on the 19th
"Further Negotiations Needed on Remaining Issues"

Kim Yongbeom, Chief of Policy Office at the Presidential Office (right), and Yeo Hangoo, Chief Negotiator for Trade Talks, who visited Washington DC, USA for follow-up discussions on Korea-US tariff negotiations, are seen moving after returning through Terminal 2 of Incheon International Airport on the 19th. Photo by Yonhap News

Kim Yongbeom, Chief of Policy Office, stated after returning from his visit to the United States for follow-up discussions on tariff negotiations, "There has been substantial progress on most of the key issues."

Speaking to reporters at the airport on this day, Kim explained, "Both Korea and the United States approached the negotiations in a very serious and constructive atmosphere," adding, "In addition to the official consultations, which lasted well over two hours, we also engaged in in-depth discussions during the subsequent dinner."

He further emphasized, "Compared to before the visit, the possibility of reaching an agreement on the occasion of the Asia-Pacific Economic Cooperation (APEC) summit has increased."

However, Kim noted, "While we have reached significant consensus on most issues, there are still matters that require further coordination. We will conduct an in-depth review with relevant ministries and continue to communicate our position and negotiate accordingly."

When asked about the plan to invest 350 billion dollars in the United States over the next ten years, Kim responded, "It is difficult to specify which issues have been resolved and which remain, as negotiations are still ongoing."

Nonetheless, he mentioned, "There is a growing consensus that the program should be mutually beneficial and within a range that South Korea can reasonably bear."

Regarding the Korea-US currency swap, he explained, "This topic came up during discussions on the impact on the foreign exchange market," and added, "There is now a certain level of mutual understanding on this matter."