South Korea’s Industry Minister Kim Jung-kwan said trade talks with the US remain tough but aim to achieve a “win-win” solution. Under the July 30 deal, Seoul pledged a $350 billion investment in exchange for Washington lowering tariffs on Korean products from 25% to 15%. Disagreements persist, however, as the US demands direct investment while Korea prefers loans and guarantees.
Kim stressed that the agreement is crucial for Korea’s future. He also addressed criticism over a recent US immigration raid on a Hyundai-LG battery plant in Georgia, noting that US officials expressed regret and pledged to “fix” related issues.
Domestically, Kim emphasized the need to build two new nuclear power plants and a small modular reactor to stabilize future energy demand. He also confirmed an investigation into a dispute settlement between KHNP and US firm Westinghouse over intellectual property rights. Finally, Kim underlined that Korea’s industrial future hinges on AI transformation, with plans to build 500 AI-powered factories by 2030.
https://en.yna.co.kr/view/AEN20250917001252320?section=economy-finance/economy
