SEOUL: A top South Korean presidential adviser expressed optimism about finalising a trade agreement with the United States.
Kim Yong-beom made his remarks before departing for Washington alongside Industry Minister Kim Jung-kwan.
They will join Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo for follow-up negotiations.
Kim’s comments echoed earlier statements by Minister Koo about “huge progress” in the talks.
Foreign Minister Cho Hyun also noted “positive signals” regarding a potential deal.
US Treasury Secretary Scott Bessent said the countries were close to finalising an agreement.
He expected an official announcement within the next ten days.
Seoul aims to reach a deal before US President Donald Trump’s late October visit for an Asia-Pacific summit.
South Korea has raised concerns about the foreign exchange implications of a 350 billion dollar investment package.
Officials have requested safeguards like a currency swap line to prevent market disruption.
The country’s benchmark KOSPI stock index rose 2.5% to a record high on Thursday.
Hyundai Motor shares surged 8.3% to a one-year high amid tariff cut expectations.
Kia Motors jumped 7.2% on hopes for reduced auto tariffs from 25% to 15%.
A trade official acknowledged some US response on foreign exchange risks but noted more work remains.
National security adviser Wi Sung-lac clarified no progress had been made on currency swap discussions.
He stated that sufficient conditions for such arrangements had not been achieved.
Local media reported various currency safeguard tools were under consideration.
Citi economist Kim Jin-wook noted rising odds for a partial compromise after prolonged deadlock.
He identified three key conditions for successful negotiations.
These include faster-than-expected timing, maintaining the 350 billion dollar figure, and implementing currency risk safeguards.
– Reuters
