South Korea to brief National Assembly next week on US$350b US investment project

South Korea’s government will hold a closed-door briefing for the National Assembly on Tuesday regarding the first investment project under its US$350 billion commitment to the United States. The briefing, which may cover a final outcome or an interim report, comes amid ongoing negotiations over com

South Korea’s government will brief the National Assembly next week on the first investment project under the country’s US$350 billion investment commitment to the United States, Yonhap News reported on Sunday, citing officials.

The industry ministry is scheduled to hold a closed-door briefing at 9.30 a.m. (1330 GMT) on Tuesday for the National Assembly’s trade, industry, energy, SMEs and startups committee on the planned U.S.-bound investment, the report said.

Reuters could not immediately verify the report. The National Assembly did not immediately respond to Reuters’ request for comment.

On Thursday, South Korea’s Foreign Minister Cho Hyun said an announcement on Seoul’s U.S. investment plans under its trade deal with Washington had been delayed pending further talks.

“If the negotiations have been concluded by then, the briefing will cover the final outcome. If negotiations are still under way, it will be provided as an interim report,” a committee official told Yonhap.

Seoul affirmed its US investment pledges and the US stressed their swift execution during talks on Friday between Foreign Minister Cho Hyun and US Secretary of State Marco Rubio in Washington.

“Our key negotiating principle is that investments can only be made when commercial viability is guaranteed,” Yonhap News reported, citing a government official. “The two sides remain divided over the issue, which has made the negotiations difficult. If no agreement is reached, the talks could ultimately fall apart.”