South Korea aims to finalise details of US investment plan this week, minister says
Kim said a $200 billion strategic-investment ceiling and a $20 billion annual cap are already agreed, but several issues remain unresolved.
- South Korean Industry Minister Kim Jung-kwan confirmed on Sunday a $200 billion ceiling on strategic investments and a $20 billion annual cap, stating these agreed-upon figures will not change following U.S. talks.
- During tariff negotiations last year, Korea committed to a $350 billion investment package, allocating $150 billion for shipbuilding cooperation and $200 billion for strategic projects.
- Leading candidates include the Encinal gas plant in Texas and nuclear reactors; reports suggest Washington seeks to raise Encinal's cost to the $22 billion range.
- A reported $2.2 billion transfer this month conflicts with a required 45-business-day waiting period, prompting Seoul and Washington to schedule videoconference talks early this week to finalize details.
- Kim is scheduled to brief the National Assembly on Thursday regarding negotiation outcomes, as Seoul aims to finalize an agreement and announce a first project within the week.
15 Articles
15 Articles
1st US project under tariff pact nears finish line
Industry Minister Kim Jung-kwan said Sunday that Korea's first investment project in the United States under last year's bilateral tariff agreement is nearing a deal but still needs further negotiations. The minister made the remarks at Incheon International Airport upon arrival from his three-day trip to the U.S., where he worked to finalize details of Seoul's first U.S. investment project related to the tariff agreement with U.S. officials, in…
South Korea aims to finalise details of US investment plan this week, minister says
South Korea will hold further talks with the U.S. early this week to finalise details of Seoul's proposed $350 billion investment commitment to the U.S., South Korean Industry Minister Kim Jung-kwan said on Sunday.
Trade Minister Kim Jeong-kwan stated on the 13th regarding negotiations on South Korea-U.S. investment projects that "we are close to reaching an agreement on many issues," but added that "disputes remain until the final signing." Meeting with reporters upon his return to Incheon Airport that afternoon, Minister Kim remarked, "There are still a few issues remaining."
Although the U.S.-ROK investment negotiations have come to an end, it has been shown that some issues still remain. The government plans to try to reach a final settlement after further discussions this week. Minister of Industry and Trade Kim Jong-kwan met with reporters after returning home via Incheon International Airport after visiting the US on the 13th and said, “There are still some issues left,” and “after internal procedures, we agreed…
(Yeongjongdo = Yonhap News) Reporter Jang Bo-in = Minister of Trade, Industry and Energy Kim Jeong-kwan, who visited the United States to finalize coordination for investment projects in the U.S., stated that there are still areas requiring negotiation...
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