Korea and the United States held last-minute talks in Washington, D.C., on the 22nd local time to reach a final agreement.
Presidential Chief of Staff for Policy Kim Yong-beom and Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy met with U.S. Commerce Secretary Howard Lutnick for about two hours at the Department of Commerce building in Washington, D.C., that day.
Deputy Minister Kim met with reporters after the talks and said, "We discussed many of the remaining issues," adding, "There was some progress." Kim continued, "There are not that many remaining issues," but noted, "We need to discuss further."
When asked, "Should we see the negotiations as being in the final stage?" Kim replied, "It's not the final stage, and negotiations aren't over until they're over."
Deputy Minister Kim did not mention what the remaining issues were or what progress had been made on them. Regarding the unresolved issue of how to structure the $350 billion (500 trillion won) investment package in the United States, the cash ratio and the funding period are believed to have been on the agenda.
Deputy Minister Kim, together with the Minister, entered the United States that morning via Dulles International Airport near Washington, D.C., and told reporters, "On many topics, our views are very close, and on one or two topics, the two countries' positions are far apart."
Kim said, "Differences on many issues have been coordinated to some extent, and if the United States takes our position on the additional topics we brought this time a bit more seriously, I think there could be a good result."
As Deputy Minister Kim described the outcome after the talks as "some progress," there is speculation that the gap over the issues has narrowed to some extent.
It had been six days since Deputy Minister Kim and the Minister last met with Secretary Lutnick on the 16th. At that time, they reportedly narrowed differences on many points during talks that lasted more than four hours, including dinner.
This trip to the United States is seen as an effort to resolve issues ahead of U.S. President Donald Trump's visit to Korea on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.
Deputy Minister Kim and the Minister are scheduled to travel to Atlanta that day and return home. This also suggests it was a one-point negotiation to gauge the U.S. response to our proposal.
To the question, "Will you meet Secretary Lutnick again soon?" Deputy Minister Kim answered, "It will be difficult to meet. If there's more to discuss, we will probably have to do it by videoconference."
When asked, "Do you think it will be concluded before the APEC summit, which opens in Gyeongju on the 31st of this month?" Kim said, "APEC is an important opportunity for us."