'US Investment' a Variable... Cabinet Ministers in Final Coordination in US

[Anchor]

Some interpretations suggest that President Trump's instruction to scale down the South Korea-U.S. joint military exercises is an expression of frustration over delayed South Korean investments in the U.S. The Minister of Trade, Industry and Energy, currently visiting the U.S., is engaged in last-minute coordination.

Reporter Kwon Ran has more.

[Reporter]

Minister of Trade, Industry and Energy Kim Jung-gwan, who departed for the U.S. in a hurry on the 16th, met with U.S. Commerce Secretary Howard Lutnick for two consecutive days on the 17th and 18th.

Meeting just three weeks after the opening ceremony of the Korea-U.S. Shipbuilding Cooperation Center, the two ministers reportedly focused on discussing major issues, implementation plans, and announcement timelines for potential U.S. investment projects.

[Kim Jung-gwan / Minister of Trade, Industry and Energy (local time on the 16th): I mentioned that we are thinking of announcing the project around late August or early September. Various issues have been emerging, and we are trying to resolve them in any way possible to meet that target....]

A Texas gas-combined-cycle power plant is reportedly being discussed as a strong candidate for the first U.S. investment project, while data centers and carbon capture and storage facilities are also known to be under review.

Although the government officially denied speculations that the U.S. recently requested investments in memory semiconductors as well, various investment demands are reportedly being conveyed through multiple channels.

However, differences in stance—with the South Korean government prioritizing post-investment profitability and the U.S. emphasizing rapid execution—have left the process sluggish, more than a year after the investment agreement was reached.

In contrast to Japan, which announced its first project last February, seven months after its investment agreement with the U.S., the pressure is mounting to include not only tariffs but also security issues.

Depending on the results of the investigation under Section 301 of the U.S. Trade Act, the possibility of additional tariffs on overproduction remains. Furthermore, some analyses suggest that President Trump's recent order to scale down joint military exercises was partly due to dissatisfaction with the speed of South Korea's implementation of investments in the U.S.

Minister Kim has also met with U.S. Trade Representative Jamieson Greer in an effort to fend off additional tariffs. He has not yet finalized his return schedule and plans to continue discussions through additional meetings with U.S. government officials.

(Video by Kim Jin-won, Graphics by Hwang Se-yeon)
※ Please note: This article was translated by AI and may contain errors.