[Anchor]
Minister of Trade, Industry and Energy Kim Jeong-gwan has visited the United States once again, just three weeks later, to coordinate a 200 billion dollar investment project in the U.S. Amid growing concerns that the U.S. might further raise tariff rates, the key issue is whether the previously agreed 15% ceiling will be maintained.
Reporting from Washington, correspondent Lee Hanseok.
[Reporter]
Minister of Trade, Industry and Energy Kim Jeong-gwan stated that he visited the U.S. to finalize various detailed issues during working-level negotiations ahead of the announcement of the U.S. investment project scheduled for late August or early September.
[Kim Jeong-gwan / Minister of Trade, Industry and Energy : As we reach the final stage, various specific and practical issues are emerging between South Korea and the U.S. through working-level discussions.]
South Korea pledged a total of 350 billion dollars in investments to the U.S. last year, lowering the base tariff from 25% to 15%.
The two countries are currently engaged in intense negotiations over detailed implementation plans for the remaining 200 billion dollars, excluding 150 billion dollars for shipbuilding cooperation.
It is reported that the combined cycle power generation sector, which was initially heavily discussed, is still under review as the first project.
The critical factor is tariff risk.
Following the U.S. imposition of a 12..5% tariff citing forced labor last month, concerns are growing that the agreed "15% ceiling" could be broken if additional tariffs are added based on the findings of an impending overproduction investigation.
Minister Kim emphasized that key U.S. figures, including Commerce Secretary Lutnick, have stated their commitment to upholding the spirit of the previous agreement, and that he will do his utmost to ensure the 15% ceiling is maintained.
He denied rumors of U.S. pressure threatening to raise tariffs if U.S. investments are delayed.
[Kim Jeong-gwan / Minister of Trade, Industry and Energy : I am not really sure about that. I have never received such a message myself, and those remarks were likely made in the context of urging faster investment.]
Regarding concerns over a negotiation vacuum caused by the abrupt dismissal of Trade Minister Yeo Han-koo, he drew a line by stating that the entire organization, centered around the Deputy Trade Minister, is responding and there will be no disruptions to negotiations.
(Video Journalist : Park Eun-ha, Video Editing : Yu Mira)
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