The US and South Korea have reached a broad trade deal, both countries have said following talks between their leaders, BBC reported.

South Korea's presidential aide, Kim Yong-beom, said the two sides will reduce reciprocal tariffs from 25% to 15%, as was agreed earlier this year. 

South Korea will also invest $350bn in the US, including $200bn in cash investment and $150bn in shipbuilding, Kim said, according to BBC.

US President Donald Trump, who is currently on a week-long trip in Asia, said the deal was "pretty much finalised" at a dinner following the discussions, which lasted almost two hours. He did not give further details.