A 3D-printed miniature model of U.S. President Donald Trump, the South Korea flag and the word "Tariffs" are seen in this illustration taken July 23, 2025. REUTERS/Dado Ruvic/Illustration

SEOUL (Reuters) -South Korea's industry minister will visit the U.S. on Wednesday for urgent talks aimed at finalizing a tariff deal that has been on hold over the details of a $350 billion investment, ahead of an Asia-Pacific summit later this month, the government said.

Industry Minister Kim Jung-kwan had returned home just two days ago from the U.S., where he met U.S. Commerce Secretary Howard Lutnick to iron out remaining differences over the large investment pledge.

South Korean officials have said Washington was no longer insisting on an "upfront" payment of the sum largely in the form of equity, which Seoul has said would severely affect the stability of its foreign exchange market.

Kim is scheduled to depart on Wednesday morning for follow-up talks on the U.S.-South Korea tariff deal tentatively reached in July, the industry ministry said in a statement. It gave no other details.

The security allies have expressed optimism about a breakthrough in the stalled talks as their leaders are expected to meet on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit later this month in South Korea.

Shares of South Korean carmakers Hyundai Motor and Kia Corp rallied on Tuesday on hopes of a trade breakthrough. U.S. tariffs on South Korean autos remain at 25% pending a final deal, whereas duties on other imports have been cut to 15%.

(Reporting by Jack Kim; Editing by Richard Chang)