The United States and South Korea have advanced trade talks, addressing details of $350bn that would be invested in the US economy, after negotiations and ceremonies that included the presentation of a gold medal and crown to US President Donald Trump.

Both were gifts from the country’s president, Lee Jae Myung, who dialled up the flattery while Washington and Seoul worked to nail down financial promises during the last stop of Trump’s recent Asia trip.

Although both sides said progress has been made — Trump said things were “pretty much finalised” — no agreement has been signed yet. The framework includes gradual investments, cooperation on shipbuilding and the lowering of Trump’s tariffs on South Korea’s automobile exports, according to Kim Yong-beom, Lee’s chief of staff for policy. T

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