SEOUL, Oct 22 (Reuters) - South Korea's industry

minister will visit the U.S. on Wednesday for urgent talks aimed

at finalizing a tariff deal that has been on hold over the

details of a $350 billion investment, ahead of an Asia-Pacific

summit later this month, the government said.

Industry Minister Kim Jung-kwan had returned home just two days

ago from the U.S., where he met U.S. Commerce Secretary Howard

Lutnick to iron out remaining differences over the large

investment pledge.

South Korean officials have said Washington was no longer

insisting on an "upfront" payment of the sum largely in the form

of equity, which Seoul has said would severely affect the

stability of its foreign exchange market.

Kim is scheduled to depart on Wednesday morning for follow-up

talks on the U.S.-South Korea tariff deal tentatively reached in

July, the industry ministry said in a statement. It gave no

other details.

The security allies have expressed optimism about a breakthrough

in the stalled talks as their leaders are expected to meet on

the sidelines of an Asia-Pacific Economic Cooperation (APEC)

summit later this month in South Korea.

Shares of South Korean carmakers Hyundai Motor ( HYMLF ) and

Kia Corp ( KIMTF ) rallied on Tuesday on hopes of a trade

breakthrough. U.S. tariffs on South Korean autos remain at 25%

pending a final deal, whereas duties on other imports have been

cut to 15%.