South Korean President Lee Jae-myung (李在明) said that while the US investment negotiations were considered to be “almost agreed,” there were points that were difficult to accept and discussions had resumed. He said the two sides were engaged in intense debate over a framework that would serve the interests of both countries without compromising the national interest.
At a press conference at the Blue House, President Lee Jae-myung (李在明) said the US investment negotiations had “almost reached an agreement,” while also stating that discussions were under way again because there were several areas that were difficult to agree on. He said the two sides were engaged in intense discussions and negotiations to structure the project in a way that would serve the national interests of both South Korea and the United States without compromising South Korea’s national interest. He went on to say that it was a difficult situation in which to include the phrase “commercial rationality,” and explained that specific issues included how the investment would be recovered, the allocation of returns, and the treatment of projects that incur losses.
He also stressed that the national interest was extremely important and said it would not be swayed by improvised pressure or coercion. Regarding the situation in which the United States was pressuring South Korean companies to build semiconductor plants in the United States, he said a rational conclusion would be reached while respecting the companies’ views and protecting South Korea’s national interest, adding that the matter remained under discussion.