Industry minister says 'meaningful progress' achieved in talks with US
The industry minister said Thursday that Seoul and Washington have made meaningful progress in talks on South Korea's strategic investment projects in the United States, with additional details to be unveiled next month. Industry Minister Kim Jung-kwan made the remark at Incheon International Airport, west of Seoul, upon returning from a trip to the United States for meetings with U.S. Commerce…
Industry Minister Kim Jung-kwan stated on Thursday that South Korea and the United States have made significant progress in discussions regarding South Korea's strategic investment projects within the US. This progress, according to Kim, will be disclosed in more detail next month. The Minister made this announcement at Incheon International Airport, situated west of Seoul, following his return from a trip to the United States where he engaged in meetings with U.S. Commerce Secretary Howard Lutnick and other officials.
Kim emphasized the "significant and meaningful progress," noting that he held meetings with Lutnick for two days and believes a wide range of issues were resolved. This visit comes as South Korea and the US are currently negotiating their first investment project under South Korea's strategic investment initiative in the US, following the National Assembly's approval of the Special Act on Korea-US Strategic Investment Management in March.
In 2022, Seoul and Washington had agreed to a US$350 billion investment pledge from South Korea. Kim further revealed that they plan to convene a virtual meeting next month to finalize the agreement, with the outcome expected to be announced in September.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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