Foreign minister says $350 billion U.S. investment delay is procedural
Foreign Minister Cho Hyun on Thursday attributed the delayed announcement on South Korea’s investment to the United States to “domestic procedures” before departing for talks with his U.S. counterpart.
The minister’s remarks appear to have played down suggestions of friction with the United States over South Korea’s pledge to invest $350 billion in the United States.
“It is my understanding that the delay is more about clearing domestic procedural hurdles than any disagreement between South Korea and the United States,” Cho told reporters at Incheon International Airport before departing for the United States.
The investment issue is expected to be on the agenda when Cho meets U.S. Secretary of State Marco Rubio on Friday.
“It will likely come up as we conduct a broader review of bilateral relations,” Cho said. “We will spell out clearly to Washington what is within our capacity.”
Cho vowed to prioritize South Korea’s national interest.
“On any issue that runs counter to our national interests or diverges from our position, we will explain our case in detail and stand firm,” the minister said.
Cho reiterated that no decision has been made on the U.S. request for South Korean forces in the Strait of Hormuz.
“Nothing has been decided yet, and we are reviewing the matter while taking various factors into account,” said Cho. “We will participate in international cooperation, but our priorities in the review will be the safety of our people and freedom of navigation in the Strait of Hormuz.”
The government has already conveyed that position to Iran as Cho held phone talks with Iranian Foreign Minister Abbas Araghchi last week.
“We have already made our basic position clear and explained it to Iran as well,” he said.
Cho also pledged to move swiftly on follow-up negotiations over nuclear-powered submarines and nuclear cooperation. The two commitments were outlined in the South Korea-U.S. joint fact sheet based on South Korean President Lee Jae Myung and U.S. President Donald Trump’s summit talks in October last year.
“We plan to press ahead swiftly with working-level talks and seek the earliest possible implementation of the joint fact sheet agreed through the two occasions of South Korea-U.S. summits,” the minister added.
Cho viewed the potential resumption of North Korea-U.S. dialogue positively.
“A breakthrough in North Korea-U.S. relations would certainly be welcome,” Cho said. “Even if dialogue resumes, our government will not be sidelined.”
Source: Koreajoongangdaily