Key facts
- South Korea and the U.S. are expected to announce their first joint investment project as early as late August or September.
- The project will focus on the energy sector, according to South Korea's Industry Minister Kim Jung-kwan.
- Seoul has committed to investing $350 billion in the U.S. under a bilateral trade deal, with an annual cap of $20 billion.
- Industry Minister Kim Jung-kwan met with U.S. Commerce Secretary Howard Lutnick and other officials to discuss trade and investment.
- Discussions are in the final phase, with a focus on projects offering stable cash flows.
South Korea and the United States are nearing the announcement of their first joint investment project, anticipated as early as late August or September, with a focus on the energy sector. South Korea's Industry Minister, Kim Jung-kwan, stated that discussions are in their final stages and that energy-related projects are considered advantageous for stable cash flows.
This initiative is part of a broader bilateral trade deal under which South Korea has committed to investing a total of $350 billion in the U.S., with an annual cap of $20 billion. Minister Kim made these remarks during a visit to Washington, where he met with U.S. Commerce Secretary Howard Lutnick and other officials to discuss investment, trade, and other bilateral issues.
Earlier reports indicated that South Korean President Lee Jae Myung was scheduled to visit South America and Germany, attend an AI summit in the U.S., and meet with tech leaders. Additionally, South Korean business leaders were expected to convene with U.S. tech executives in San Francisco to explore AI cooperation. The South Korean National Security Adviser had also previously stated that a data leak dispute would not impede ongoing trade, investment, or security talks with the U.S.