Feb 19 • 08:39 UTC 🇰🇷 Korea Hankyoreh (KR)

Pressure mounts for Korea as Japan firms up investment plans in US

Korea faces increased pressure to advance its investment plans in the US following Japan's announcement of investment projects under a trade deal with the US.

The announcement by Washington and Tokyo regarding their initial investment projects in the US under a trade deal places additional pressure on Korea to expedite its own investment efforts. In response, Seoul has initiated steps to strengthen bilateral economic ties by dispatching a working-level delegation led by Deputy Minister for Trade Park Jung-sung to the US. This delegation aims to engage in targeted discussions with US Department of Commerce officials to explore potential investment projects and assess their feasibility.

Park's delegation intends to establish a foundation for swift Korean investments in the US, contingent upon the National Assembly's passage of enabling legislation. The urgency of these talks is underscored by Korea's objective to avoid any negative repercussions from US trade policies, particularly the threat of increased tariffs by President Donald Trump. By participating in these discussions, Korea hopes to ensure that its investment strategy aligns with the evolving economic landscape shaped by Japan’s commitments.

As the competition for investment in the US intensifies, Korea must navigate its own economic policies while also responding to the shifting dynamics caused by Japan’s proactive approach. The outcomes of these talks could significantly influence Korea's trade relations with the US and its stance in the broader geopolitical climate in the region, emphasizing the critical nature of timely and strategic investments in foreign markets.

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