The chances of South Korea and the United States finalizing their trade negotiations remain unpredictable, President Lee Jae Myung's aide said Friday, effectively bucking expectations that South Korea could conclude the monthslong trade talks with the US in the final week of October on the occasion of the Asia-Pacific Economic Cooperation summit.
"An understanding has been reached on the security agenda (between Seoul and Washington)," Wi said Friday.
"We are trying, but it is uncertain whether (a deal) could be announced on the occasion of the summit," he also said, while confirming that Lee and US President Donald Trump were scheduled to hold talks in Gyeongju, North Gyeongsang Province, on Wednesday afternoon.
The two sides are unlikely to publicly announce any agreements unless both the security and trade pillars are finalized as a package, said Wi, adding that this approach aligns with US preferences.
"The US prefers the announcement of a deal with talks (on security and trade) having been finalized," Wi said. "If tariff talks don't work out, we will see what the US would prefer. ... We're not pushing for a specific position."
This follows the return of South Korean officials, including Kim Yong-beom, chief presidential secretary for policy, on Friday morning. Kim said the two sides have failed to narrow their differences on points of contention regarding a trade deal. Kim did not elaborate, but South Korea has called for a "rational" approach to the deal as the US has sought "upfront" payment of $350 billion toward investments in US projects in return for proposed tariff cuts from 25 percent to 15 percent for most Korean goods, including cars.
In an interview with Singapore-based newspaper the Straits Times released Friday, Lee said he was cautious about "working towards any artificial deadline," in an apparent reference to announcing the finalization of a deal during his upcoming meeting with Trump on Oct. 29.
Wi's remarks came as he unveiled Lee's itinerary as the chair of this year's APEC conferences in Gyeongju.
Alongside meeting with leaders from the US, China, Canada and Singapore, in addition to one with Japan that was being coordinated, Lee is to deliver a speech at the opening ceremony of the APEC CEO Summit on Wednesday.
Lee will also chair sessions during the two-day APEC Economic Leaders' Meeting of 21 member economies. For Friday's session, Khaled bin Mohamed Al Nahyan, crown prince of Abu Dhabi in the United Arab Emirates, and Kristalina Georgieva, managing director of the International Monetary Fund, were also invited. Also on Friday, Lee will host a luncheon with the APEC Business Advisory Council and a dinner with APEC leaders and entrepreneurs, among other distinguished guests.
consnow@heraldcorp.com
