A large delegation of Korea's economic command is visiting the United States for Korea-U.S. trade talks. Attention is on whether the long-stalled Korea-U.S. tariff negotiations will reach a new turning point.
Koo Yun-cheol, Deputy Prime Minister and Minister of the Ministry of Economy and Finance, departed for the United States on the morning of the 15th to attend the International Monetary Fund (IMF)–World Bank (WB) annual meetings and the Group of 20 (G20) finance ministers' meeting, while Presidential Chief of Staff for Policy Kim Yong-beom and Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy will also depart on the 16th. Yeo Han-koo, head of the Office of the Minister for Trade of the Ministry of Trade, Industry and Energy, has already left to prepare for follow-up consultations on the tariff negotiations.
Meeting reporters at Incheon Airport that morning, Koo said, "I think I will meet U.S. Treasury Secretary Scott Bessent several times," adding, "I will explain Korea's situation well to Secretary Bessent."
Earlier, at the Strategy and Finance Committee's National Assembly audit of the Ministry of Economy and Finance on the 13th, Koo explained that he had proposed meeting Secretary Bessent on the 15th (local time) but had not yet received a definitive reply.
Attention is on whether concrete plans will be finalized for the $350 billion investment proposed by Korea in this round of talks. Through a text notice to the press corps on the 13th, the presidential office said, "On our side, we presented a revised plan in September regarding the financial package to the U.S. side, and there was some response from the U.S. side," adding, "We ask for your understanding that we cannot provide specifics at this stage."
Previously, the U.S. side had demanded a "cash investment" for the verbally agreed $350 billion investment. In response, the Korean government, citing the possibility of a currency crisis, counterproposed concluding an unlimited Korea-U.S. currency swap.