President Lee Jae Myung has said South Korea and the United States remain deadlocked on key details of Seoul's $350 billion investment pledge as part of a trade agreement with Washington reached earlier this year.
Lee made the remarks in an interview with Bloomberg on Friday as the two sides have been negotiating over the major details of the framework agreement struck in July, such as how to carry out the investment package.
"The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends — all of these remain sticking points," Lee said. "The US will of course try to maximize its interests, but it mustn't be to the extent that causes catastrophic consequences for South Korea.
"The discussion is ongoing, and there are some differences of opinion, but the delay does not necessarily mean that this is a failure," Lee said, noting that he believes they will be able to reach a "rational result."
Lee's remarks come as he is set to hold talks with US President Donald Trump on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit set to take place in South Korea's southeastern city of Gyeongju.
Trump told reporters Friday aboard Air Force One that a trade deal with South Korea is "pretty close to being finalized," noting that he is "ready" if Seoul is ready.
Regarding the detention and later release of South Korean workers in a US immigration raid at a Hyundai plant in Georgia last month, Lee said he expects a solution to the issue "in the not-too-distant future" as the two countries work to revise the visa system.
"Without taking measures to ensure the safety and rational treatment of these workers, there is a high possibility that factory construction in the US may be significantly postponed," he said. (Yonhap)
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