The U.S. and South Korea remain stuck on ¡°all¡± the major details of a $350 billion investment pledge, South Korean President Lee Jae Myung said in an interview Friday, signaling that they may fail to finalize a trade deal in time for a summit meeting with U.S. President Donald Trump.
¡°The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends ¡ª all of these remain sticking points,¡± Lee said in an exclusive interview with Bloomberg News at his office that also touched on his China policy and defense issues. ¡°The U.S. will of course try to maximize its interests, but it mustn¡¯t be to the extent that causes catastrophic consequences for South Korea.¡±
The two leaders are due to hold talks on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju, South Korea. The investment pledge is a key pillar for cementing a trade deal between the two nations first sketched out in July, a delay that has left Korean automakers at a competitive disadvantage.
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