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 announced Thursday that significant progress has been made in talks between South Korea and the United States regarding strategic investment projects in the U.S. The minister made the remarks upon his return from a trip to Washington, where he held meetings with U.S. Commerce Secretary Howard Lutnick for two days.
Kim expressed optimism, stating that they resolved a wide range of issues during the discussions. The visit comes as South Korea and the U.S. are currently negotiating their first investment project under South Korea's strategic investment initiative, which was passed by the National Assembly in March. In 2021, Seoul and Washington agreed on a US$350 billion investment pledge from South Korea.
The minister hinted at a virtual meeting next month to finalize the agreement, with the outcome expected to be announced in September.
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