U.S. President Donald Trump insisted that South Korea would provide billions of dollars in investments "upfront", despite Seoul's contention that it would be plunged into a financial crisis if it met the U.S. demands without safeguards.
A government official told that Trump’s remarks conflict with South Korea’s view of the trade deal.
"We have never thought about making the investments in lump sum," the South Korean official said, adding that both South Korea and Japan intended to provide financing for projects only after a "capital call" made by the United States.
South Korea, which pledged $350 billion toward U.S. projects in July, has balked at U.S. demands for control over the funds and South Korean officials say talks to formalise their trade deal are at a deadlock.
Trump formalised a trade deal with Japan this month, lowering tariffs on its automobiles and other products in return for $550 billion of investment in U.S. projects.
Both Japan and South Korea have said they will make investments based on U.S. projects, rather than paying the total of $900 billion upfront.
A memorandum of understanding on Japan's $550 billion investment agreed with the United States in September also made no mention of "upfront" payment of the funds.
It says the investments should be made 'from time to time' until the end of Trump's term in January 2029. Under its deal, Tokyo agreed to transfer money within 45 days after the U.S. selected a project.
Japanese officials did not comment on Trump's "upfront" remarks on Friday.
A second South Korean government official declined to comment on Trump's remarks, but reiterated that talks with the United States were based on the principle that the deal should meet national interests and be commercially feasible.
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Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to end Russia’s war in Ukraine.
Indonesia has reopened Jakarta's main airport and four others after volcanic ash from Mount Anak Krakatau forced widespread flight cancellations, though fresh eruptions have kept authorities on alert.
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
North Korea has built a new uranium enrichment facility at its Yongbyon nuclear complex in the northwest of the country and begun operating an expanded site at Kangson, near the capital Pyongyang, the United Nation’s nuclear watchdog has said.
Israel has ordered the closure of the British consulate in East Jerusalem and banned 12 British nationals from entering the country, escalating a diplomatic row with London over Israeli settlements in the West Bank.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 9th of September, covering the latest developments.
The United States has announced a ban on a range of Canadian products, including alcoholic beverages, dairy goods and motorcycles, as retaliatory Canadian tariffs on U.S. imports take effect.
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