SEOUL, Oct 22 (Reuters) - Senior South Korean officials
will visit Washington on Wednesday for urgent discussions aimed
at finalising a tariff deal that has been on hold over details
tied to a $350 billion investment, ahead of an Asia-Pacific
summit later this month.
Presidential Policy Secretary Kim Yong-beom and Industry
Minister Kim Jung-kwan, who met U.S. Commerce Secretary Howard
Lutnick last Friday, will reconvene with Lutnick again to iron
out outstanding differences over the large investment pledge.
"Gaps have been narrowed between the two sides on many
issues, but there are a couple of matters over which the two
sides still stand apart," Secretary Kim said before boarding a
flight to Washington.
Kim said he would seek to reach an agreement that is in the
interests of both countries and would not sign any partial deal
solely to meet a deadline.
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 destabilise its foreign
exchange market.
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 automakers Hyundai Motor ( HYMLF )
and Kia Corp ( KIMTF ) rallied on Tuesday on hopes of a trade
breakthrough. U.S. tariffs on South Korean cars remain at 25%
pending a final deal, whereas duties on other imports have been
cut to 15%.