South Korea aims to finalise details of US investment plan this week, minister says

SEOUL – South Korea will hold further talks with the United States to finalise details of Seoul’s proposed US$350 billion (S$443.56 billion) investment commitment to the US, South Korean Industry Minister Kim Jung-kwan said on Sept 13.Speaking to reporters after returning from the US, Kim said a US$200 billion ceiling for strategic investments, part of the broader US$350 billion investment commitment, including a US$20 billion annual cap, had already been agreed on and would not change.He said the two sides were close to an agreement on many issues, but cautioned that several matters remained unresolved. This week’s talks will be by video conference.He declined to elaborate on specific projects that could be included in the investment package, saying it was difficult to discuss concrete deals before negotiations were finalised.Kim was in the US last week for talks with US Commerce Secretary Howard Lutnick and other officials on the scale and conditions of the proposed investment package. REUTERS