On October 26th, the video of Lee Jae-myung's interview was made public. He said that South Korea and the United States are still deadlocked on the key details of the $350 billion investment plan.

He said that of course, the United States will try to maximize its own interests, but it can't bring disastrous consequences to South Korea.

He also expressed his belief that South Korea and the United States could achieve a "rational result."

In July 2025, South Korea and the United States reached a trade agreement framework. The United States will reduce tariffs on South Korean goods in exchange for South Korea's US$350 billion investment.

The two sides are currently negotiating on the specific implementation of the framework agreement.

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Extended reading

7 Hours Golf Worked? ¡°Hungary has settled $3500 billion investment in the United States¡±

South Korea's four major financial leaders just finished playing golf at US President Trump's Sea Lake mansion, South Korea's Presidential Chamber Policy Secretary Kim Xue Feng revealed on October 19 that the two countries' tariff negotiations have made "substantial progress" on most key issues.

Kim Rongfan said that South Korea and the United States have reached broad agreement on many issues, but there are still several points that need further negotiation. He believes that at the 32nd informal meeting of Asia-Pacific Economic Cooperation (APEC) leaders to be held in South Korea at the end of October, the possibility of finalizing the agreement between South Korea and the United States has increased.

Lee and Trump meet at the White House.

Kim Yong-pham said that "the two countries conducted negotiations in a very serious and constructive atmosphere." On the issue that "the negotiation plan must be within a range that South Korea can bear","the opinions of South Korea and the United States are obviously similar to before."

The South Korean Daily on the 20th that Kim¡¯s remarks were interpreted as the US side accepted South Korea¡¯s position to some extent.In the framework of the trade agreement reached between the two countries, the United States agreed to reduce the 25% tariffs on South Korea to 15%, but demanded South Korea to invest $350 billion in full direct investment, which South Korea believes is ¡°beyond the scope that South Korea can withstand.¡±

South Korean President Lee Jae-myung has previously bluntly stated that South Korea's foreign exchange reserves are US$416.3 billion. Without signing a currency swap agreement with the United States, if South Korea invests US$350 billion in cash as required by the United States, South Korea's economy may fall into a situation comparable to that of 1997. The predicament of the financial crisis.

South Korea's East Asia Ilbo said that South Korea has proposed to the United States to set up a $350 billion investment fund, which will invest in installments and gradually for 10 years by combining loans and guarantees, and flexibly use Korean won and US dollars according to the foreign exchange market conditions to invest within the affordable range of South Korea.

Reported that the United States has partially accepted South Korea's proposal to no longer require cash investment, but to use an investment method that combines loans and guarantees.

However, Qingdao sources told the Korean Daily that the remaining two differences were "very complex and critical" and concerned with issues such as investment ratio, source of funds and direction of use.

According to reports, Kim Jong-un held talks with U.S. Commerce Secretary Howard Lutnik and the head of the White House Office of Management and Budget, Russell Watt, and made the statements at the meeting with the media at Rinkuwa airport after returning to South Korea on November 16.

On October 16th, local time, Kim Yong-beom (middle), director of the policy office of the President of the Republic of Korea, held talks with Howard Lutnick, secretary of commerce of the United States. The Ministry of Industry, Trade and Energy of the Republic of Korea provided Korean media

Bloomberg reported on the 20th that boosted by this news, South Korea's stock market rose in early trading on Monday, and the KOSPI index once exceeded 3800 points intraday, setting a record high.

The U.S. media also noted that before Kim Jong-un revealed progress in the Korean-U.S. trade negotiations, South Korean finance leaders, executives and other enterprise leaders gathered at the Sea Lake estate for golf events over the past weekend.

Yonhap News Agency said on the 20th that heads of major Korean enterprises, including Samsung Electronics President Lee Jae-yong, SK Group President Cui Taiyuan, Hyundai Motor Group President Zheng Yixuan, LG Group President Koo Guangmo and Hanwha Group Vice President Kim Dongguan, played golf with Trump at Trump International Golf Club on the 18th at the invitation of Masayoshi Son, CEO of Softbank Group of Japan. They reportedly communicated with Trump on APEC summit and investment in the United States.

According to the report, although the heads of Korean enterprises did not play in the same group as Trump, it was the first time that they all played with senior US government officials. After the game, they met with Trump to introduce the current situation of Korean companies' investment in the United States. Trump emphasized the shipbuilding cooperation between the two countries and called on the ROK to cooperate. But the two sides did not mention tariffs.

Zheng also told Trump that he is looking forward to visiting South Korea to attend the APEC summit, and the relevant parties are working together to solidify and organize the preparations for the summit.

Bloomberg mentioned that Trump is a golf enthusiast who often uses Mar-a-Lago as a place for business negotiations and diplomatic contacts, and has received foreign leaders and heads of multinational enterprises here many times.

In recent years, large South Korean enterprises have become one of the major foreign investors in the United States, actively investing in the construction of electric vehicles and semiconductor plants in the United States to help revive the shipbuilding industry in the United States. Nevertheless, there have been obstacles to obtaining U.S. work visas. Last month, U.S. immigration law enforcement carried out a raids into the South Korean modern car and LG New Energy joint battery plant in Georgia, detaining more than 300 South Korean citizens.

Currently, LG has resumed some projects to send employees to work in the United States. However, South Korean business people told South Korean media that the second Trump administration has put further pressure on foreign investment, tightened visa issuance, and reversed immigration policies, making the future situation of the U.S. market more unpredictable, which will inevitably hinder companies 'long-term investment plans.