LOC18:46
15:46 GMT
TOKYO, Oct 29 (KUNA) -- US President Donald Trump said on Wednesday that he reached a trade deal with his South Korean counterpart Lee Jae Myung that was "pretty much finalized," Yonhap News Agency reported.
Trump spoke shortly after coming out of a summit with Lee in the southeastern city of Gyeongju, the host of this year's Asia-Pacific Economic Cooperation (APEC) meetings, saying that, "we reached a deal,"when asked by a reporter about a trade deal as he appeared for a dinner hosted by Lee.
Under that agreement, South Korea committed to investing USD 350 billion in the US in exchange for Washington's lowering of "reciprocal" tariffs on the nation from 25 percent to 15 percent, Yonhap added, quoting Trump as saying "we reached a conclusion on a lot of very important items."
During the talks, the two leaders also discussed a wide-ranging agenda, including economic ties, alliance modernization, peace on the Korean Peninsula, regional security issues, according to National Security Adviser Wi Sung-lac.
The South Korean president reiterated his commitment to denuclearization on the Korean Peninsula through his three-stage roadmap of a stop, reduction and dismantlement of North Korea's nuclear program, while Trump expressed concerns about the "growing threat" posed by North Korea's nuclear capabilities, Yonhap added. (end)
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