Dispute Over Investment Profits

Minister of Trade, Industry and Energy Kim Jung-kwan has publicly refuted U.S. claims that 90% of the profits from a $350 billion investment in the U.S. would go to American interests, dismissing the assertion as "nonsensical." The investment was part of recent Korea-U.S. tariff negotiations.

Negotiation Outcomes

During a radio appearance, Minister Kim clarified that while the investment areas and scales have been decided, the operational specifics remain under negotiation. He also emphasized the flexibility of the investment timeline, countering U.S. preferences for completion within the current administration's term.

Future of Korea-U.S. FTA

Kim reassured that the recent negotiations do not signify the end of the Korea-U.S. Free Trade Agreement (FTA), highlighting benefits for certain exports like ramen, despite new reciprocal tariffs. However, he confirmed that rice and beef markets would not be reopened for discussion, marking a firm close to those negotiations.

Government's Plan

The Korean government views the $350 billion investment as a gateway to new business opportunities for local companies, alongside plans to support those affected by U.S. tariffs through market diversification and domestic demand stimulation.