South Korea national security adviser says Seoul cannot pay $350B cash to US

By Saadet Gokce

ISTANBUL (AA) – South Korea’s national security advisor Wi Sung-lac said Saturday that Seoul cannot “pay” the $350 billion investment to the US in cash, pushing back against US President Donald Trump’s remark that the money was an “upfront” payment.

“From an objective and realistic point, South Korea cannot pay $350 billion in cash,” Wi said, according to South Korean news outlet Chosun Biz.

Trump said Thursday that South Korea’s $350 billion investment in the US was “upfront,” a comment that added pressure to ongoing trade negotiations between the two countries.

In July, Seoul and Washington reached an agreement in principle that the US would lower tariffs on South Korean imports from 25% to 15% in return for Seoul’s commitment to invest $350 billion in the American market.

But the two sides remain deadlocked over how the investment fund will be structured. Without a deal, South Korean imports could again face the 25% tariff.

Earlier this month, South Korea’s presidential office said it would not rush to sign any trade agreement that could hurt domestic companies. Seoul “cannot sign an agreement that would cause major losses to our companies just because of time pressure,” it said, adding that South Korea aims to conclude talks “at an early date” but will not accept terms that “cause serious harm” to the national interest.

Wi said alternative proposals are under discussion as Seoul works toward resolving the impasse ahead of the Asia-Pacific Economic Cooperation (APEC) summit next month, which Trump is expected to attend.