Close gaps in Korea-US relations

Despite Seoul's pledge of $350 billion to the U.S., relations between the two countries continue to be strained. There is no clear interpretation or agreement between the sides, and neither is likely to gain anything without one. Seoul is expected to announce the first project under the investment pledge before the Chuseok holiday later this week.

However, the announcement, originally set for last week, has been delayed due to issues regarding commercial viability and ongoing discussions over contentious provisions. President Lee Jae Myung has suggested support for restoring free passage through the Strait of Hormuz, but this has not yet materialized.

The Encinal natural gas-fired combined-cycle power plant in Texas is a leading candidate for the first project, with a proposed cost of $22.3 billion. Additionally, Korea seeks to increase its stake in Westinghouse, but the U.S. side appears to oppose this move. Of the eight nuclear reactors Korea is interested in building, it hopes to construct only two. These proposed projects and domestic interests have created several points of contention in the relationship between Korea and the U.S.