Gyeongju: U.S. President Donald Trump announced that a trade deal with South Korea is expected to be completed "very soon" amidst reports of stalled negotiations over its details. Trump made this statement during his keynote speech at the Asia-Pacific Economic Cooperation (APEC) CEO Summit held at the Gyeongju Arts Center, ahead of a meeting with South Korean President Lee Jae Myung.

According to Yonhap News Agency, the framework agreement, initially reached in July, involves South Korea committing to invest US$350 billion in the United States. In return, the U.S. is to reduce "reciprocal" tariffs from 25 percent to 15 percent. However, the agreement's implementation is delayed due to unresolved details in the investment package. The upcoming summit between Lee and Trump is highly anticipated for potential resolutions to these outstanding issues.

During his address, Trump highlighted the strong shipbuilding partnership between the U.S. and South Korea, affirming the special bond between the two nations. He mentioned South Korean conglomerate Hanwha Group's acquisition of Philly Shipyard Inc. in Philadelphia as a significant development in this sector, expressing optimism about its future success.

Trump also expressed his appreciation for South Korea, acknowledging President Lee for hosting the APEC summit and describing South Korea as both a valued ally and a remarkable nation. He praised South Korea's economic achievements and its status as a free and democratic society.

Looking ahead, Trump previewed his upcoming summit with Chinese President Xi Jinping in South Korea, expressing optimism for reaching a beneficial agreement for all involved parties, including South Korea.