Cheong Wa Dae Says It Is "Closely Consulting on Candidate Projects" Following Report of 'First U.S. Investment Remittance in September'

[Financial News] Cheong Wa Dae said on the 9th that it was continuing consultations with the United States on a pool of candidate investment projects related to South Korea’s planned investment in the United States as a follow-up measure to the tariff negotiations. However, it declined to disclose the specific investment targets, amount, or timing of the announcement.
A Cheong Wa Dae official said in response to media reports that the government would remit the first investment funds to the United States this month, "We are closely consulting with the U.S. side regarding candidate projects for the first investment project in the United States. However, we ask for your understanding that we cannot confirm the specific investment destination, announcement timing, or amount."
The official added, "As discussions between South Korea and the United States are ongoing, we ask that you exercise caution in reporting in consideration of the national interest."
Earlier, a media outlet reported that the government planned to unveil its plan to pursue investment projects in the United States on the 18th and remit the first investment funds to the United States around the 29th or 30th.
In last year’s tariff negotiations with the United States, South Korea agreed to pursue a total of $350 billion in investment in the United States—including $150 billion in shipbuilding cooperation and $200 billion in strategic investment—in exchange for reducing the tariff rate from 25% to 15%.
The construction of the approximately $22 billion Encinal gas combined-cycle power plant has been cited as the leading candidate for the first investment project.

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