South Korea and US can't find common ground on cash part of $350 billion investment deal

South Korea and the United States are stuck in a deadlock over the cash side of a $350 billion investment deal, just days before Presidents Donald Trump and Lee Jae Myung meet on October 29 at the APEC summit in ￰0￱ Korea’s Industry Minister Kim Jung-kwan admitted Friday that the split is still “sharp,” warning there may be no agreement in time for the ￰1￱ yeah, this standoff could screw up tariff cuts that were promised months ￰2￱ returned early Friday morning from Washington after a second round of trade talks in less than a week, this time with ￰3￱ Secretary Howard Lutnick. “From our perspective, we believe the amount should be smaller, while the ￰4￱ that it needs to be larger,” Kim said, pointing to the part of the deal that actually involves real cash, not just pledges or paper ￰5￱ was joined in ￰6￱ Policy Chief Kim Yong-beom, who said both governments still have a “long way to go” before anything gets ￰7￱ Korean tariffs remain frozen at 25% The delay means 25% tariffs on Korean cars and auto parts are still in place, instead of dropping to 15% as agreed back in July.

Meanwhile, Japan got its deal finalized in September, which now gives Tokyo-based automakers a big price edge over Korean rivals in the ￰8￱ clearly doesn’t want to get bullied into accepting the same profit terms Japan signed onto, especially when the cash burden could punch a hole through its currency ￰9￱ the numbers being thrown around aren’t ￰10￱ to Chosun Ilbo, Washington wants an average of $25 billion a year for eight years, but Seoul insists it can’t go above $15 billion annually. That’s a $10 billion per-year ￰11￱ the Bank of Korea isn’t happy ￰12￱ has warned that $20 billion per year is already the upper limit if they don’t want to mess with the won’s ￰13￱ higher than that, and they’re risking major shocks to the Korean financial ￰14￱ Minister Koo Yun Cheol said this week that the two countries are still hammering out the structure of the package, not discussing a currency ￰15￱ that’s odd, because last month Prime Minister Kim Min-seok told Bloomberg that without one, the deal would be a disaster for the Korean economy.

It’s unclear why the swap idea was shelved or who killed ￰16￱ ￰17￱ also demanding a 90% cut of the profits once the initial capital is recovered, echoing the deal they already locked in with ￰18￱ Jung-kwan admitted “we haven’t set a time limit yet,” but said they’re “doing our best to uphold our position until the end.” He wouldn’t confirm the $25 billion figure, but said profit-sharing was definitely part of the ￰19￱ your free seat in an exclusive crypto trading community - limited to 1,000 members.