Trump "South Korea-U.S., reached an agreement…trade negotiations nearly concluded" [Comprehensive]

U.S. President Donald Trump said on the 29th that "we have reached an agreement and have nearly concluded trade negotiations" with South Korea.

AFP, Reuters and others reported that President Trump, who is visiting Korea, made the remark at a 'leaders' special dinner' hosted by President Lee Jae-myung after the South Korea-U.S. summit held in Gyeongju that day, saying, "We had a very good meeting with Korea today."

President Lee Jae-myung is greeting U.S. President Donald Trump ahead of the leaders' special dinner hosted by the president at the Gyeongju Hilton Hotel Grand Ballroom in North Gyeongsang Province on the 29th. /Photo=Yonhap News

According to reports, President Trump said, "Many things were decided at the meeting." However, he did not specify the details of the agreement.

He said, "We also discussed various matters related to national security," and added, "I think we have reached conclusions on many very important items."

The South Korea-U.S. trade negotiations were a key agenda item at the summit that day.

Earlier, the two countries had broadly agreed that the U.S. would lower the reciprocal tariffs it imposes on Korean imports from 25% to 15%, and that South Korea would implement a $350 billion (about 501 trillion won) investment package for the U.S.

However, some observers said more time may be needed for a final deal as the two sides were unable to bridge differences over, among other things, how South Korea's investment package to the U.S. would be structured.

By Lee Bo-bae, guest reporter at Hankyung.com newsinfo@hankyung.com