Overview
- U.S. Treasury Secretary Scott Bessent said negotiators are about to finish and he expects an outcome within roughly 10 days, with talks ongoing in Washington during the IMF–World Bank meetings.
- Seoul sent its top economic and trade officials to Washington for a concentrated round of meetings with Treasury, Commerce and USTR, and they also met the White House Office of Management and Budget to fine‑tune implementation details.
- Key issues still being hammered out include whether Korea’s US$350 billion pledge relies on upfront cash or a mix of loans and guarantees, how profits are shared, and how investment decisions are governed.
- Financial safeguards remain pivotal as Seoul presses for a currency‑swap line or comparable FX protection; Bessent noted any swap decision rests with the Federal Reserve and said he was surprised such a facility is not already in place.
- Both governments are working toward a late‑October timeline linked to the APEC meetings and a possible Lee–Trump summit, even as President Trump publicly urges an ‘upfront’ payment and Korean markets rise on signs of progress.