The U.S. and South Korea are in a deadlock over details of a $350 billion investment fund the two countries agreed to as part of a broader trade deal, with a top Seoul official warning that even the shipbuilding partnership is at risk if they fail to narrow the differences.
Speaking at a forum on Tuesday, Kim Yong-beom, director of national policy at South Korea’s presidential office, said Seoul has been emphasizing to U.S. officials that it cannot accept the same terms as Japan’s $550 billion investment pledge finalized last week, citing the disparity in the size of the two economies and the potential repercussions on the foreign exchange market.
“Without an agreement, it will be difficult for the MASGA project to even get off the ground,” Kim said, referring to “Make American Shipbuilding Great Again,” a term Seoul coined for reviving…
