The U.S. and South Korea remain stuck on "all” the major details of a $350 billion investment pledge, South Korean President Lee Jae Myung said in an interview Friday, signaling that they may fail to finalize a trade deal in time for a summit meeting with U.S. President Donald Trump.
"The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends — all of these remain sticking points,” Lee said in an exclusive interview with Bloomberg News at his office that also touched on his China policy and defense issues. "The U.S. will of course try to maximize its interests, but it mustn’t be to the extent that causes catastrophic consequences for South Korea.”
The two leaders are due to hold talks on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju, South Korea. The investment pledge is a key pillar for cementing a trade deal between the two nations first sketched out in July, a delay that has left Korean automakers at a competitive disadvantage.
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