Industry minister says S. Korea, U.S. seek to resolve outstanding issues over investment plan

SEOUL, Aug. 17 (Yonhap) -- South Korea's industry minister has emphasized the need to address unresolved matters related to a $200 billion investment plan as part of ongoing bilateral tariff negotiations with the United States. Industry Minister Kim Jung-kwan made this statement upon arriving in Dallas, Texas, amid continued tariff pressure from the United States over several unresolved trade issues.

The $350 billion trade deal between the two nations, which lowered the U.S. tariff rate on South Korean imports from 25 percent to 15 percent, allocated $150 billion to shipbuilding cooperation. However, the remaining $200 billion has been the subject of detailed negotiations. Kim informed reporters that the specific issues were becoming apparent as the final stage approached, and the two sides were aiming to meet the end-of-August target for announcing the projects.

Kim expressed his goal of resolving these issues during his visit to the United States, where South Korea faces increasing trade pressure from Washington.