Lawmaker Says Trump to Announce South Korean Investments

South Korean lawmaker Yoon Hu-duk stated during a hearing that Donald Trump is scheduled to announce details of South Korean investments in the United States on September 18. These investments stem from a trade deal reached last October between Trump and South Korean President Lee Jae Myung, which capped tariffs on Korean imports at 15% in exchange for a US$350 billion commitment to US manufacturing.

Yoon identified several potential projects, including a Texas gas project, an Alaskan liquefied natural gas scheme, carbon capture, the construction of eight nuclear reactors, and the reprocessing of 4,000 tonnes of nuclear material.

However, the specific details remain unconfirmed by the White House and South Korea's industry ministry. Finance minister nominee Lee Hyoung-il noted that matters are still under consultation and indicated the government intends to maintain a US$200 billion investment ceiling for certain projects.