President Yoon Discusses U.S. Investment Talks, Seeks National Interest

President Yoon Suk Yeol stated on September 18 that discussions regarding U.S. investment negotiations are ongoing, noting, "While it is said that we are almost in agreement, there are parts that are difficult to accept, so we are talking again."

During a press conference at the Blue House, President Yoon addressed questions about the progress of the U.S. investment negotiations and the timing of a final announcement. He emphasized that they are engaged in intense discussions to structure projects that benefit both South Korea and the U.S. without compromising the national interest.

He described the U.S. investment as a "very complex and challenging task involving approximately 500 trillion won of taxpayer money." He added, "Initially, I was reluctant, but considering tariffs, U.S. relations, and agreements with neighboring countries like Japan, Taiwan, and Singapore, I compromised."

President Yoon highlighted that including the term 'commercial rationality' in the agreement between South Korea and the U.S. was not an easy process. He recounted, "Even on the morning of the day before the second summit last August, we had not reached an agreement, but ultimately, we included the expression 'commercial rationality' that we wanted, which is not found in other countries."

He noted that as specific investment discussions began, issues such as the method of recovering investment funds, profit distribution, and handling losses became problematic again. He stated, "The working negotiation team is also facing difficulties, and I am losing sleep over these concerns."

President Yoon reiterated his commitment to continue negotiations based on national interest, asserting, "National interest is truly important. We must not be swayed by any relationships, pressures, or coercion, which is my principle." However, he did not specify the timing for a final agreement or announcement.

Regarding the U.S. demand for semiconductor factory expansions and balancing it with domestic mega-projects, he indicated that corporate management decisions and national industrial strategies would be considered together.

He remarked, "Taiwan is also establishing semiconductor factories in the U.S., and Samsung Electronics and SK Hynix are already building factories there. The scale of expansion will depend on the management decisions of those companies and is related to South Korea's industrial strategy."

He added, "While respecting the opinions of companies, we will work towards a reasonable conclusion that protects South Korea's national interest, as this matter is still under discussion."

Earlier, the government had planned to report the first U.S. investment project to the National Assembly on the 17th and sign a memorandum of understanding (MOU) with the U.S. on the 18th. However, the schedule for the National Assembly report was postponed due to the need for further adjustments, which is expected to delay the announcement of the first investment project.