0
Minister of Trade, Industry and Resources Kim Jung-kwan, who visited the U.S. to finalize negotiations on investment in the U.S., answers questions from reporters after arriving at Incheon International Airport Terminal 2 on the 13th. / Yonhap

Minister of Trade, Industry and Resources Kim Jung-kwan, who led negotiations on investment in the U.S., returned home on the 13th and stated, "We are close to reaching an agreement on many issues," setting a goal to finalize the talks and announce the outcome within this week.

Speaking to reporters after arriving at Incheon International Airport in the afternoon, Kim said, "A few contentious points still remain," adding, "We need to hold another videoconference early this week following internal procedures."

Addressing the progress of the talks, he explained, "It is true that we are near an agreement on many issues, but negotiations are not finished until the final signature is affixed."

Regarding the timeline for a final deal and announcement, Kim noted, "We intend to seek a final agreement within this week, and once a deal is reached, we plan to announce it." Accordingly, the government is expected to accelerate efforts to finalize projects for investment in the U.S. within the week through further discussions on remaining issues and domestic formalities.

Kim refrained from confirming specific projects, such as the Encinal combined-cycle gas turbine power plant in Texas and subsequent nuclear power plant construction initiatives, which have been widely cited as the leading candidate for the inaugural investment project in the U.S.

"Please understand that it is difficult to comment on specific projects at this stage," Kim said. Currently, the Encinal combined-cycle gas turbine plant is considered a strong contender for the first investment initiative, while on the nuclear power front, proposals under negotiation reportedly include building two of Korea Hydro and Nuclear Power's APR1400 reactors initially, or up to eight units in total.

He pushed back against concerns that the overall strategic investment volume could exceed the initially agreed 200 billion dollars if the Alaska liquefied natural gas project, which has faced questions over economic viability, is incorporated into the package.

Kim stressed, "The investment cap of 200 billion dollars overall and 20 billion dollars annually will be strictly adhered to as originally agreed with the U.S.," adding, "There will be no exceeding those limits."

Regarding whether compromises were made on investment structures, such as the operation of special purpose vehicles demanded by the U.S. side, Kim withheld detailed comment, stating, "It is difficult to speak specifically on the details of any compromise."

From the 10th to the 12th in New York, Kim held final-stage talks with U.S. Commerce Secretary Howard Lutnick and other officials to negotiate the target projects, scale, and conditions for the 200 billion dollars in strategic investments out of a broader 350-billion-dollar investment package in the U.S.

                                                                                                             Han Dae-ui