Industry Minister Kim Jung-kwan returned to South Korea after follow-up talks with U.S. Commerce Secretary Howard Lutnick. The meetings aimed to clarify details of the bilateral trade agreement signed in July. Officials sought solutions to unresolved issues and explored ways to boost cooperation.
Kim traveled to the United States to address disagreements over the agreement. South Korea pledged $350 billion in investment in exchange for Washington lowering tariffs from 25 percent to 15 percent. Despite intense discussions, sources indicate that both sides have yet to reach a final resolution.
The minister and Lutnick held discussions at a private location in New York. They focused on key investment sectors and regulatory adjustments. However, Kim did not provide comments to reporters upon returning to Incheon International Airport. Analysts suggest the impasse may delay implementation.
The trade agreement previously received broad confirmation during a summit between President Lee Jae Myung and U.S. President Donald Trump. Yet, details of the $350 billion investment plan remain unresolved. South Korea’s presidential policy chief, Kim Yong-bum, noted that both sides face challenges over specific investment commitments.
Observers highlight that South Korea trade talks with US officials have continued since the initial agreement. Both governments aim to maintain momentum and avoid diplomatic friction. Economic analysts stress that progress in these discussions could significantly influence South Korea’s exports and industrial sectors.
Experts note that delays in clarifying investment procedures could affect multiple industries, including technology, automotive, and heavy machinery. South Korea trade talks with U.S. authorities remain crucial for maintaining strong bilateral economic ties. Officials plan to hold additional technical consultations to resolve outstanding issues.
The agreement’s success depends on mutual cooperation and clarity on reciprocal tariff reductions. South Korea trade talks with US representatives will likely continue until both sides finalize terms. Businesses in both countries closely watch developments, anticipating the potential impact on supply chains and market access.
