US, S. Korea to hold talks on $350 billion investment this week: Report

ISTANBUL

Trade officials from the US and South Korea are set to meet in Washington this week to discuss potential investments in US energy projects and other initiatives tied to a recently approved $350 billion fund, Bloomberg reported Monday, citing sources.

The meetings between S. Korean representatives and officials from the US Commerce Department and US President Donald Trump’s National Energy Dominance Council are expected to focus on reviewing specific investment opportunities under the fund, which was created as part of last year’s US–South Korea trade framework.

The sources, who asked to remain anonymous, told Bloomberg the discussions will center on potential projects supported by the fund.

The talks come days after S. Korea’s National Assembly passed legislation establishing a new “strategic investment fund” to manage the projects, clearing the way for agreements between the two countries in areas such as semiconductors, energy infrastructure, and shipbuilding.

Discussions about the investment fund began over the weekend while US and South Korean officials were in Tokyo for an Indo-Pacific economic summit.

According to one source, a S. Korean official repeatedly stressed the country’s intention to move quickly — at what was described as “Trump speed” — to finalize US–Korea energy projects under the initiative.

Seoul has been pushing to speed up the bill’s passage after US President Donald Trump warned that reciprocal tariffs on Korean exports could rise again to 25% from 15% in January, citing delays in S. Korea’s legislative procedures required to advance the trade arrangement.

Trump is also expected to meet Japanese Prime Minister Sanae Takaichi in Washington this week, where they are likely to discuss a $550 billion investment fund modeled on S. Korea’s arrangement with the US.

Later this month, Trump is scheduled to visit Beijing to meet Chinese President Xi Jinping, with trade and business agreements -- including a potential Chinese purchase of Boeing jets -- expected to be among the topics of discussion.