Lee's aide sees progress in US tariff talks, but says more coordination needed

Kim Yong-beom, director of national policy at the presidential office, said Sunday that Seoul saw tangible progress in narrowing down differences over tariff talks with Washington as he returned from a four-day trip.

"During the meetings to coordinate (over tariff talks), we have seen practical progress in most of the points of contention," said Kim, though “a few matters still require coordination.”

The key aide to President Lee Jae Myung added that Seoul and Washington are “doing their utmost to conclude the negotiations smoothly.”

Kim led a South Korean delegation of ministers, comprising Deputy Prime Minister Koo Yoon-cheol, Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo, as they sought to meet their respective counterparts, US Secretary of Treasury Scott Bessent, US Secretary of Commerce Howard Lutnick and US Trade Representative Ambassador Jamieson Greer.

Kim said the likelihood of reaching an agreement around the APEC summit “has increased compared with before the US visit.” South Korea is set to host the APEC Economic Leaders' Meeting in Gyeongju, North Gyeongsang Province, where Lee is likely to meet US President Donald Trump.

The presidential aide, however, declined to disclose details over differences concerning the US demand for "upfront" cash investment into US projects at the discretion of Trump.

However, he said that both sides are nearing consensus on ensuring that any deal remains “mutually beneficial and within acceptable limits,” and that the US side “understands the potential impact on South Korea’s foreign exchange market.”

“The two countries agree that the outcome should be mutually beneficial,” Kim said.