[2025 National Audit] Foreign Minister Cho Hyun: "U.S. Investment Negotiations Now at Stage of Reviewing New U.S. Proposal"

Minister of Foreign Affairs Cho Hyun announced on October 13 that the United States has presented a new alternative regarding the $350 billion investment negotiations.

Cho Hyun, Minister of Foreign Affairs, is responding to questions from lawmakers at the Foreign Affairs and Unification Committee's national audit held at the National Assembly in Yeouido, Seoul on October 13, 2025. Photo by Yonhap News Agency

During the National Assembly's Foreign Affairs and Unification Committee's national audit held that day, Minister Cho responded to related questions by saying, "If the entire $350 billion were to be made as direct investment, it would immediately cause foreign exchange issues for us and could have a serious impact on our economy. We have explained all these problems to the U.S. side, and now the U.S. has come up with a new alternative, which we are currently reviewing." However, he refrained from providing specific details.

Minister Cho further explained, "Initially, when the United States discussed the $350 billion, it was a package that included not only direct investment but also loans and loan guarantees. Later, however, this changed to the entire amount being direct investment. We have maintained our stance that we cannot accept $350 billion in direct investment."

He added, "A South Korea-U.S. summit will be held on the occasion of the Asia-Pacific Economic Cooperation (APEC) meeting, and until then, we will do our utmost to negotiate so that this issue can be resolved smoothly."