South Korea Urges Rational Trade Talks with U.S.

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.)