Lee Jae-myeong: The trade negotiations between South Korea and the United States are still at a stalemate

South Korean President Lee Jae-myung said that South Korea and the United States still have differences on key details of a $350 billion investment commitment, which means that the two countries may not be able to finalize a trade agreement before the APEC summit.

Lee Jae-myung said in an exclusive interview with Bloomberg in the presidential office last Friday (October 24th) : "The way of investment, the amount of investment, the timetable, and how to share losses and distribute dividends - all these issues remain the crux of the matter."

Lee Jae-myung also talked about China policy and national defense issues. He said, "The United States will of course strive to maximize its own interests, but it must not be so large as to bring disastrous consequences to South Korea."

Although Lee Jae-myung and other senior South Korean officials said there were still significant differences between the two sides, US President Trump told US media when starting his Asian trip that the United States was "very close" to reaching an agreement with South Korea.

After finishing his trip in Malaysia, Trump will continue his visit to Japan and South Korea. Trump is scheduled to hold talks with Lee Jae-myung on Wednesday (the 29th).

When Lee Jae-myeong visited the White House in July, he reached a principle consensus with Trump on a broader trade deal, including a $350 billion investment commitment in exchange for the United States reducing South Korea's equivalent tariff rate from 25% to 15%.

The APEC Economic Leaders' Informal Meeting was held in Gyeongju, South Korea from October 30 to November 1.