The presidential office said on the 2nd that it has proposed a revised plan from the Korean side to the United States regarding specific management measures for the $350 billion investment in the U.S. and is waiting for a response.
Kang Yu-jeong, Spokesperson for the presidential office, said at a briefing that day, "Because the (U.S.-bound investment fund management plan) is under discussion, I cannot discuss details," adding, "We are negotiating under various scenarios and will work to come up with a plan that benefits both countries."
It was disclosed through Presidential Chief of Staff for Policy Kim Yong-beom that the government sent the revised U.S.-bound investment fund management plan to the American side. In an interview with the JoongAng Ilbo, Kim said, "We sent a constructive revised alternative to the U.S." The revised plan is five pages in English and was reportedly delivered by Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy, who visited the U.S. for three days starting on the 11th, to U.S. Commerce Secretary Howard Lutnick.
Deputy Minister Kim said, "We are doing our utmost to negotiate in good faith," adding, "Following the revised plan, we also conveyed that a Korea-U.S. currency swap is a necessary condition to meet U.S. demands."
Deputy Minister Kim said, "The U.S. even applies pressure by sending the Korea-U.S. memorandum of understanding together with the U.S.-Japan memorandum of understanding and saying, 'Japan is fine with it, so why are you opposed?,'" adding, "Through unofficial channels, there are also exchanges of words like, 'If you think you can trample Korea, try it; even the trampling foot will be pierced.'"