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The Taegeukgi flutters over a relatively quiet Cheong Wa Dae on December 28 last year, a day before the presidential office's return to the compound. The presidential standard (Bonghwanggi) is scheduled to be hoisted at midnight on the 29th. Pictured is Cheong Wa Dae viewed from the Government Complex Seoul in Jongno-gu, Seoul, on the 28th. / Reporter Park Seong-il

Cheong Wa Dae stated on the 9th, regarding media reports that the South Korean government would remit investment funds for U.S. projects within this month, that it is "closely consulting with the U.S. side on the list of investment project candidates."

However, Cheong Wa Dae added that "details regarding specific investment destinations, announcement timing, and size cannot be confirmed."

Cheong Wa Dae further noted that "discussions between South Korea and the U.S. are ongoing," urging the press to "exercise caution in reporting, taking the national interest into account."

South Korea pledged a total of 350 billion dollars in U.S. investments last year in exchange for lowering tariffs from 25 percent to 15 percent, encompassing 150 billion dollars in shipbuilding cooperation and 200 billion dollars in strategic investments.

The Encinal combined-cycle gas turbine (CCGT) power plant construction project is widely cited as the leading candidate to become the first investment in the U.S. The investment volume for the project is reported to be around 22 billion dollars.

                                                                                                             Hong Sun-mi