Discussions between South Korea and the United States over a $350 billion (approximately 500 trillion Korean won) investment package—the centerpiece of ongoing trade negotiations—remain at an impasse, South Korean President Lee Jae-myung told Bloomberg News on October 26.
In an interview, President Lee highlighted key sticking points, including “the method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends.” He added, “The U.S. will of course try to maximize its interests, but it mustn’t be to the extent that causes catastrophic consequences for South Korea.”
The president emphasized that the delay in talks does not necessarily indicate failure. “South Korea is an ally and friend of the U.S., so we believe that we will be able to reach a rational result that is acceptable to all sides and this is what has to be done,” he said.
Lee’s remarks contrast with statements by U.S. President Donald Trump, who, while on his Asia tour starting October 24, said a resolution was near. “We are very close to finalizing a deal,” Trump said regarding South Korea-U.S. tariff negotiations. “If they are ready to reach a deal, I am ready.”
The Bloomberg interview followed recent high-level discussions in the U.S., during which South Korea’s presidential chief of staff for policy, Kim Yong-beom, and Minister of Trade, Industry and Resources, Kim Jung-kwan, met with U.S. Commerce Secretary Howard Lutnick to advance negotiations.
President Lee also addressed concerns stemming from a recent incident in Georgia, where Korean workers building a battery factory were detained. “This has caused severe trauma for the workers, and I have heard that some workers do not want to go back,” Lee said. He warned that, without measures to ensure the safety and fair treatment of workers, the factory’s construction could be significantly delayed.
Regarding improvements to the visa system to prevent similar incidents in the future, Lee expressed optimism, stating he expects a solution “in the not-too-distant future.”
The $350 billion package remains a central issue in South Korea-U.S. trade talks, with both sides navigating complex negotiations on investment terms, worker protections, and strategic economic interests.
