South Korea remains in intensive talks with the US to iron out final details of its $350 billion investment pledge, including a possible currency swap line aimed at safeguarding the Asian nation from potential financial instability.

Several senior officials from Seoul, including presidential policy chief Kim Yong-beom and Trade Minister Yeo Han-koo, are in Washington this week seeking to finalize the agreement before the Asia-Pacific Economic Cooperation summit later this month. Policy Chief Kim also met with Commerce Secretary Howard Lutnick and other US officials during the visit.

The trade talks have been in deadlock for more than two months, with the two countries divided over the implementation of the $350 billion investment fund. The investment pledge is the centerpiece of a trade agreement that capped US duties on Korean goods at 15 percent. With the details still unresolved, the US has yet to lower tariffs on cars from 25 percent, leaving South Korean automakers at a disadvantage against their Japanese rivals.

President Donald Trump has repeatedly insisted that Seoul’s investment package be made “upfront.” South Korea pushed back, arguing that the amount represents more than 80 percent of its foreign exchange reserves. Officials warned that such an outflow could weaken the won and have pressed the US to establish a currency swap arrangement.

With exports equivalent to over 40 percent of South Korea’s GDP, the finalized trade deal is expected to provide greater stability and confidence in its economy.

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Finance Minister Koo Yun-cheol said he had conveyed to Treasury Secretary Scott Bessent that making the investment upfront in cash would not be feasible given Korea’s foreign-exchange constraints.

“Once an alternative structure is proposed, we’ll assess the associated FX demand and whether it can be managed within a range that ensures stability in Korea’s currency market,” Koo told reporters in Washington during a televised interview. “Depending on how that changes, we’ll then determine whether a currency swap is necessary, whether it’s feasible, and if so, to what extent it should be pursued.”

The Munhwa Ilbo newspaper earlier reported that Korea is in discussions with the US on an Argentina-style currency swap to help curb volatility in its FX market. The arrangement would likely be made through US Treasury funding, rather than a direct deal between the Federal Reserve and the Bank of Korea, the report said.

Policy Chief Kim also visited the US Office of Management and Budget on Thursday to discuss a shipbuilding initiative known as “Make American Shipbuilding Great Again,” according to Yonhap News.