US, South Korea talks lose steam over $350B investment fund disagreement

The ￰0￱ South Korea are in a stalemate over a $350 billion investment fund, which both countries made in the wake of the heightened ￰1￱ ￰2￱ Yong-beom, South Korea’s director of national policy, also warned that even the shipbuilding agreement is at risk if both parties fail to narrow the differences. Yong-beom said that on Tuesday, Seoul told ￰3￱ multiple times that it could not accept terms similar to Japan’s $550 billion investment pledge finalized last ￰4￱ pointed out that the two economies are different in size and might have potential repercussions on the foreign exchange ￰5￱ seems more concerned about how to secure and manage the fund Kim noted that the ￰6￱ issued South Korea a draft similar to the one Japan accepted and maintained that the country could not agree to those ￰7￱ also believes it’s important to determine the party making the fund’s investment decisions and the profit-sharing ￰8￱ to him, South Korea is more concerned about securing and managing $350 billion from the foreign exchange ￰9￱ director of Seoul’s national policy also stated that it will be difficult to set in motion the Make Shipbuilding Great Again (MASGA) ￰10￱ project is aimed at reviving the ￰11￱ industry.

“The circumstances facing South Korea and Japan are fundamentally different.” -Kim Yong-beom, Director of National Policy at South ￰12￱ Donald Trump signed an executive order on September 5 applying a baseline 15% tariff on Japanese imports to the ￰13￱ also agreed on a $550 billion investment in the ￰14￱ be invested in specific projects in the ￰15￱ initiative is meant to strengthen ￰16￱ and economic ￰17￱ and the ￰18￱ the deal in July but stalled it for weeks as Washington and Tokyo haggled over ￰19￱ to a memorandum of understanding detailing the funding pledge, the ￰20￱ to hike levies on Japanese imports if the country doesn’t fund Trump’s selected ￰21￱ is yet to strike a deal on lower auto tariffs for South Korea as ￰22￱ nations have also been in talks to follow up on their July ￰23￱ ￰24￱ South Korea agreed to the $350 billion fund as part of a trade deal to maintain 15% levies on imports from ￰25￱ believes the auto industry and lowering tariff differences are ￰26￱ said Seoul cannot rush to agree on $350 billion just to secure a tariff deduction in the auto sector because it could shock the country’s entire ￰27￱ hundreds of South Korean workers The deadlock also comes as 300 South Koreans were detained after a ￰28￱ raid on a Hyundai Motor Group-LG Energy Solution battery plant in the state of Georgia, raising tensions between the two ￰29￱ raid is considered a move that could make Korean companies more reluctant to invest in the ￰30￱ being encouraged to do so as part of the trade agreement.

Seoul’s flagship carrier, Korean Air, has agreed to dispatch a chartered plane on Wednesday to return the detained ￰31￱ company’s spokesperson said the airline will operate a charter flight to Atlanta tomorrow using a Boeing ￰32￱ Korean Minister of Foreign Affairs, Cho Hyun, went to Washington on Monday to seek assurances from ￰33￱ that the workers will not face multi-year bans from re-entry to the ￰34￱ called for foreign companies to respect ￰35￱ laws and asked to hire and train American workers in ￰36￱ you're reading this, you’re already ￰37￱ there with our newsletter .