South Korea's $350 Billion Investment Pledge to US Hits Stalemate

October 27 (Reuters) - According to a Bloomberg report, South Korean President Lee Jae-myung stated in an interview on the 24th that discussions regarding South Korea's $350 billion investment pledge to the United States remain deadlocked on key details. This suggests the two countries may not reach a trade agreement before the APEC summit.

Lee Jae-myung said, "The method of investment, the amount, the timeline, and the plans for sharing losses and dividends are all sticking points." However, US President Trump recently stated that the US is "very close" to reaching an agreement with South Korea.

It is reported that US and South Korean officials have been engaged in intense final-stage negotiations to reach an agreement on this investment. This latest round of talks comes as Lee Jae-myung is about to host the APEC summit in South Korea.

Bloomberg pointed out that since the US government conducted surprise immigration inspections at US battery factories of South Korea's Hyundai Motor Company and LG Energy Solution in September, South Korea's willingness to fulfill its investment pledge may have further weakened. "The image of over 300 South Korean employees being detained in shackles shocked a country that has already invested billions of dollars in the US and pledged to invest more."

Lee Jae-myung also mentioned in the interview, "Discussions between the two countries are ongoing. There are some differences of opinion, but that does not necessarily mean the negotiations have failed." (End)