President Lee Jae-myung said that wide gaps remain between the two countries over a $350 billion (about 500 trillion won) investment package in the United States, a core sticking point in the Korea-U.S. trade talks. It is unclear whether a final agreement will be reached at the Korea-U.S. summit set for on the 29th.
In an interview with Bloomberg News published on the 26th local time, the president said, "The investment method, amount, timeline, loss sharing, and dividends are all still issues," adding, "The United States will try to maximize its own interests, but that must not lead to disastrous consequences for Korea."
After the two countries reached a broad trade agreement in July, they have failed to find common ground on the detailed structure and implementation plan. As a result, it is uncertain whether a trade agreement will be announced at the Korea-U.S. summit to be held in Gyeongju on the 29th.
The president said, "Talks are ongoing, and while there are some differences, a delay in a deal does not mean failure." He also emphasized, "Because Korea is an ally and friend of the United States, I believe we can reach a reasonable outcome that everyone can accept."
The president's cautious remarks contrasted sharply with President Donald Trump's comment that the two sides are "very close to a deal." Trump told reporters aboard Air Force One on the 24th, "If Korea is ready, I'm ready."
The president's interview was conducted on the 24th, the day after Presidential Chief of Staff for Policy Kim Yong-beom and Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy concluded talks in Washington with U.S. Commerce Secretary Howard Lutnick.
The president also referred to the incident in September in which more than 300 Korean workers were detained and then released by U.S. immigration authorities at a battery plant construction site in Georgia, saying, "The workers experienced severe trauma, and I heard some are reluctant to go back to the United States." The president warned, "If worker safety and reasonable treatment are not ensured, there is a strong possibility that factory construction in the United States will be delayed."
He added, regarding visa system improvements that Korea and the United States are discussing to prevent a recurrence, "I believe we will find a solution in the not-too-distant future."