President Lee Jae-myung on the 23rd addressed the possibility that tariff negotiations with the United States could be concluded at the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju at the end of this month, saying, "I think it will take a bit more time," while adding that he believes the two countries will reach a "reasonable result" that both can accept. He indicated that while the two sides are finding common ground on key sticking points, it will be difficult to conclude the talks in the short term. Even so, he said he trusts in the United States' "reasonableness."
In a CNN interview in the United States released that day, Lee said, "Because we are allies and share common sense and reasonableness." The key issues in the South Korea–U.S. tariff negotiations are the ratio of cash direct equity investment and whether payment will be made in installments for the $350 billion in investment funds for the United States. U.S. President Donald Trump wants the money paid upfront during his term (through Jan. 2029). The Korean government, which initially considered a 5% direct investment, is seeking to adjust it to "5%+alpha (α)" in light of potential shocks to the foreign exchange market, while requesting long-term installment payments.
Regarding the still significant differences between the two sides, Lee said, "I trust in the United States' reasonableness." The previous day, Policy Chief Kim Yong-beom and Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy departed for Washington, D.C., for final-stage talks. While this is a step to conclude the tariff negotiations on the occasion of President Trump's visit to Korea for APEC, Lee said it is likely the timing of a conclusion will be after APEC.
However, there is speculation that the two countries will at least produce a "fact sheet" as reference material to avoid a "no deal." As Trump tours Asia, he also needs a domestic political card proving results on tariffs. Therefore, the two sides could outline an agreement below the level of an MOU (memorandum of understanding) and proceed with follow-up negotiations. On this, CNN reported that throughout the interview, Lee "was mindful of President Trump and spoke cautiously, as during the South Korea–U.S. summit in August."
Regarding the possibility that President Trump could meet North Korea's State Affairs Commission Chairperson Kim Jong-un on the sidelines of the APEC summit, Lee said, "If the leaders of the United States and North Korea can meet even unexpectedly, I think that would be very good," adding, "I believe President Trump has the will to achieve world peace. That is why I asked him to play the role of 'peacemaker.'" When asked if he had a message for Chairperson Kim, he said, "I would like to say that meeting the other side in person and talking will be the first step toward solving many problems."