"Consensus Reached on Minimizing Burden on Foreign Exchange Market"
It has been assessed that the United States has effectively eased its stance on demanding an "all-cash investment" in its investment negotiations with South Korea. Minister of Trade, Industry and Energy Kim Jeonggwan stated upon his return from the United States that "the United States is not insisting on an all-cash investment anymore," adding that both countries have entered a stage of adjusting their positions regarding investment methods and the burden on the foreign exchange market.
Upon arriving at Terminal 2 of Incheon International Airport on the afternoon of the 20th, Minister Kim told reporters, "If the United States had continued to insist on only an all-cash investment, negotiations would have been difficult," and added, "They have accepted a significant portion of our opinions." He further stated, "Both sides share the understanding that unnecessary shocks to the foreign exchange market should be avoided."
He explained that during this visit to the United States, discussions focused on trade issues between South Korea and the United States, with working-level talks continuing on matters such as the scale and method of investment. However, regarding the details of the adjustments or agreements, he said, "Since the discussions are still ongoing, it is difficult to disclose specifics."
Minister Kim also said, "The positions on various issues regarding our proposal are narrowing," and added, "Although all differences have not been completely resolved, there has been progress." He further explained, "The United States was not insisting solely on a complete cash investment. We are creating a structure that can be adjusted through mutual consultation."
Regarding the future negotiation schedule, Minister Kim stated, "If necessary, I can visit the United States again at any time," and added, "There will be additional consultations depending on the situation."
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