"First US Investment as Early as Late August"... How Will New Tariffs Shape Up?

[Anchor]

Minister of Trade, Industry and Energy Kim Jeong-gwan stated that an energy-related project is under review as the target for South Korea's first large-scale investment in the United States, valued at 200 billion dollars. An official announcement is expected as early as the end of next month.

Here is a report from Washington by correspondent Lee Hanseok.

[Reporter]

Arriving in Washington, D.C., to attend the opening ceremony of the Korea-U.S. Shipbuilding Cooperation Center, Minister of Trade, Industry and Energy Kim Jeong-gwan mentioned the target for the 200 billion dollar investment in the U.S. promised during the Korea-U.S. trade agreement.

He stated that energy-related projects guaranteeing stable cash flows are being discussed intensively.

[Kim Jeong-gwan / Minister of Trade, Industry and Energy : I think projects that can generate a stable cash flow are naturally the better choices.]

He added that final consultations are underway to produce mutually satisfactory results for both countries, explaining that an official announcement is scheduled for as early as late August.

[Kim Jeong-gwan / Minister of Trade, Industry and Energy : If we wrap things up well, I think we might be able to make the announcement around late August and September.]

During his visit to the U.S., Minister Kim is also scheduled to meet with U.S. Secretary of Commerce Howard Lutnick and other officials to discuss urgent trade issues.

In particular, he plans to clearly convey South Korea's stance regarding the 12.5% tariff that the U.S. side is pursuing under Section 301 of the Trade Act to replace the 10% global tariff expiring on the 24th.

Minister Kim plans to emphasize that the 15% tariff ceiling derived from the bilateral trade agreement must be strictly upheld.

Meanwhile, regarding points raised that the Coupang situation is affecting diplomatic and trade issues between South Korea and the U.S., he stated that he will focus on narrowing misunderstandings and gaps.

(Photo courtesy of Yonhap News)
(Video Reported by Oh Jung-shik | Video Edited by Kim Byung-jik)
※ Please note: This article was translated by AI and may contain errors.