Washington: U.S. President Donald Trump reiterated his assertion Wednesday that South Korea has agreed to make an "upfront" payment of US$350 billion to invest in the United States. This claim comes as both nations work to address differences regarding the implementation of the investment package outlined in a trade deal reached in July.
According to Yonhap News Agency, the statement was made during a press availability following comments from U.S. Treasury Secretary Scott Bessent. Bessent expressed anticipation for progress in trade negotiations with Korea within the next 10 days, sparking optimism for an agreement on the investment package.
During the briefing, Trump mentioned, "They've all signed ... Japan, South Korea," highlighting South Korea's commitment with the figure of $350 billion and Japan's at $650 billion, despite Japan's actual commitment being $550 billion.
Last month, Trump had similarly described South Korea's investment as an upfront payment. However, Seoul has expressed reservations about the demand for such a substantial direct cash investment, citing concerns that it might lead to a financial crisis similar to the 1997 Asian financial meltdown.