S. Korea Refutes Trump’s USD350B Upfront Payment Assertion

(MENAFN) South Korea’s national security advisor, Wi Sung-lac, firmly denied Saturday that Seoul can provide the $350 billion investment in the U.S. as an immediate cash payment, contradicting U.S. President Donald Trump’s recent assertion.

“From an objective and realistic point, South Korea cannot pay $350 billion in cash,” Wi stated, as reported by Chosun Biz.

Trump had declared on Thursday that South Korea’s $350 billion investment in the U.S. was an “upfront” payment, intensifying pressure amid ongoing trade talks between the two nations.

In July, both countries agreed in principle that the U.S. would reduce tariffs on South Korean imports from 25% to 15%, contingent upon Seoul committing to the $350 billion investment in the American market.

However, the two governments remain deadlocked over the investment’s structural details. Without a finalized deal, South Korean imports risk facing the full 25% tariff once again.

Earlier this month, South Korea’s presidential office emphasized it would not hastily endorse any trade agreement detrimental to domestic firms. The office declared, Seoul “cannot sign an agreement that would cause major losses to our companies just because of time pressure,” while also underscoring that the country aims to conclude talks “at an early date” but will not accept terms that “cause serious harm” to the national interest.

Wi added that alternative options are currently being explored as Seoul seeks to break the stalemate before the upcoming Asia-Pacific Economic Cooperation (APEC) summit, where Trump is anticipated to attend.

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