South Korea and the U.S. are currently in talks over the former's planned strategic investments in the latter, worth $200 billion, after the U.S. pressed the Asian country to ramp up its plans, Bloomberg News reported Saturday, citing a South Korean presidential official.
The commitment is part of South Korea's broader $350 billion U.S. investment pledge, which includes $200 billion in strategic investments and $150 billion for cooperation on the shipbuilding front. The financial commitment was approved by the South Korean parliament via a special bill in March, the report said.
Delays in implementing the investment pledge had prompted U.S. President Donald Trump to threaten tariffs of up to 25% on South Korean imports, it said.
Details of the bilateral discussions or internal government communications were undisclosed.
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