US pressing Seoul to expand investment beyond promised $350 billion: lawmaker
Park Jung-sung, center, newly appointed trade minister of Korea, presides over a meeting at the administrative complex in Sejong, Aug. 26. Yonhap
Washington is pressuring South Korea to commit more than the $350 billion it initially agreed to invest in the United States as part of their bilateral tariff deal, a lawmaker said Tuesday, citing a report from the trade ministry.
Seoul made the $350 billion investment pledge in late 2025, in exchange for the U.S. lowering its reciprocal tariffs on South Korea. The investment package consists of a $200 billion investment in strategic industries and another $150 billion in the U.S. shipbuilding industry.
At the latest round of negotiations held on the $200 billion investment package, the U.S. focused on three major energy infrastructure projects — a large natural gas plant in Texas, a nuclear reactor program and the development of a natural gas pipeline in Alaska, according to the lawmaker.
"Negotiators are making last-minute adjustments on whether to invest in only two out of the three major projects, or to adjust the investment amount for each of the three projects," the lawmaker said, noting the sum of investments demanded by the U.S. for all three projects would exceed $200 billion.
The government is reportedly seeking to finalize its talks with the U.S. and hold a closed-door briefing at the National Assembly next Thursday before signing an agreement with the U.S. as early as next Friday.