South Korea Urges Rational Trade Talks with U.S.

South Korean President Lee Jae Myung has urged U.S. Treasury Secretary Scott Bessent for 'commercially rational' trade talks benefiting both nations. At the United Nations, Lee emphasized the importance of a $350 billion investment deal and expressed concerns about currency stability amid trade agreements affecting foreign reserves.

South Korean President Lee Jae Myung has urged the United States for 'commercially rational' trade negotiations. His comments came during a meeting with U.S. Treasury Secretary Scott Bessent on the sidelines of the United Nations General Assembly.

The meeting centered on a $350 billion investment package previously agreed in principle between Lee and U.S. President Donald Trump. This deal aims to lower tariffs on South Korean goods entering the United States, a measure expected to benefit both nation's economies.

Lee expressed hope that the discussions would progress peacefully, emphasizing the importance of balancing economic interests. South Korea, seeking a foreign exchange swap with the U.S., is concerned about exacerbating currency market volatility and depleting its foreign reserves.

(With inputs from agencies.)