South Korea’s industry minister says the first investment project under the Korea-U.S. bilateral trade deal is expected to be announced as early as late August. Industry Minister Kim Jung-kwan makes the remarks in Washington during a four-day visit that includes meetings with U.S. Commerce Secretary Howard Lutnick and other officials to discuss investment, trade, and related issues. Kim says discussions between the two countries are nearing the final stages and focus on projects in the energy sector. He explains that, while Seoul prefers investment options with stable cash flows, energy-related projects are viewed as advantageous for South Korea. The expected announcement follows the framework of last year’s trade deal, under which South Korea commits to invest $350 billion in the United States, subject to an annual cap of $20 billion. The minister’s comments indicate that the first selected project is intended to fit the deal’s investment timeline and align with the energy focus currently under negotiation.
Korea-US talks aim to announce first U.S. investment project by late August
South Korea’s industry minister says the first investment project under the Korea-U.S. bilateral trade deal is expected to be announced as early as late August. Industry Minister Kim Jung-kwan makes t...
- South Korea expects its first U.S. investment project under the bilateral trade deal to be announced as early as late August.
- Industry Minister Kim Jung-kwan says talks with the United States are in the final phase.
- The discussions focus on energy-sector projects.
- Kim says South Korea favors investments with stable cash flows, and views energy projects as advantageous.
- The deal provides for South Korea to invest $350 billion in the U.S., capped at $20 billion per year.
WASHINGTON — Korea's first project for investment in the United States under a bilateral trade deal is expected to be announced as early as late next month, with the two countries' relevant discussions centering on the energy sector, Seoul's industry minister said Wednesday. Industry Minister Kim Jung-kwan made the remarks in a meeting with Korean reporters after arriving at an airport near Washington for a four-day visit during which he plans to meet Commerce Secretary Howard Lutnick and other officials to discuss investment, trade and other issues. Korea and the U.S. have been in talks to decide investment projects as part of last year's trade deal under which Seoul has committed to investing $350 billion in the U.S. with an annual cap of $20 billion. "From our standpoint, projects with stable cash flows are more desirable projects. That said, we believe energy-related projects are more advantageous in that respect (for Korea). So our discussions with the U.S. are proceeding with a focus on such energy projects," he said. "Currently, (the talks) are almost in the last phase. If we co
1 hour agoWASHINGTON — Korea's first project for investment in the United States under a bilateral trade deal is expected to be announced as early as late next month, with the two countries' relevant discussions centering on the energy sector, Seoul's industry minister said Wednesday. Industry Minister Kim Jung-kwan made the remarks in a meeting with Korean reporters after arriving at an airport near Washington for a four-day visit during which he plans to meet Commerce Secretary Howard Lutnick and other officials to discuss investment, trade and other issues. Korea and the U.S. have been in talks to decide investment projects as part of last year's trade deal under which Seoul has committed to investing $350 billion in the U.S. with an annual cap of $20 billion. "From our standpoint, projects with stable cash flows are more desirable projects. That said, we believe energy-related projects are more advantageous in that respect (for Korea). So our discussions with the U.S. are proceeding with a focus on such energy projects," he said. "Currently, (the talks) are almost in the last phase. If we co
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