South Korea is unable to pay $350 billion upfront in investment in the United States as President Donald Trump suggested under a deal to cut tariffs and is seeking an alternative solution, Seoul's presidential adviser said on Saturday.
Since a handshake deal by the allies' leaders in July to lower U.S. tariffs to 15% from 25%, as Trump earlier imposed, South Korea has said the $350 billion in investment would be in the form of loans and loan guarantees as well as equity.
Trump in remarks this week said South Korea would provide the investment "upfront", despite Seoul's contention that kind of outlay could plunge Asia's fourth largest economy into a financial crisis.
"The position we're talking about is not a negotiating tactic, but rather, it is objectively and realistically not a level we are able to handle," South Korea's National Security Adviser Wi Sung-lac said on Channel A News television.
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.
Last week South Korean President Lee Jae Myung told Reuters that without safeguards such as a currency swap, South Korea's economy, with foreign exchange reserves of $410 billion, would plunge into a crisis if it were made to make a massive outlay.
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A man fatally stabbed two teenagers and seriously injured a third before falling from a motel window to his death in Changwon, South Gyeongsang Province, local authorities reported.
South Korean prosecutors have requested a 15-year prison sentence for former First Lady Kim Keon Hee, who is on trial for bribery, stock manipulation and fundraising offences, with a verdict due on 28 January.
The United States will reduce import duties on South Korean automobiles to 15%, effective retroactively from 1 November, according to an announcement by U.S. Commerce Secretary Howard Lutnick on Tuesday.
Han Hak-ja, who is accused of bribing former First Lady Kim Keon Hee with luxury gifts including Chanel handbags and a diamond necklace, went on trial in South Korea on Monday.
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FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
Pakistan and Afghanistan exchanged heavy fire along their shared border late on Friday, a reminder of how sensitive the frontier remains despite ongoing diplomatic efforts.
Iran’s Foreign Ministry has strongly condemned the Gulf Cooperation Council (GCC) for its support of the claims by United Arab Emirates on three Iranian islands.
Chinese leader Xi Jinping accompanied French President Emmanuel Macron to Chengdu on Friday, a rare gesture seemingly reserved for the head of Europe's second-largest economy that highlights Beijing's focus on Paris in its ties with the European Union.
More than 60 Indigenous artifacts held in the Vatican for 100 years, including a rare Inuit kayak, arrived in Montreal, where First Nation, Métis and Inuvialuit leaders welcomed them home with ceremony, song and emotion.
U.S. Secretary of War Pete Hegseth defends follow-up strike on suspected drug boat in the Caribbean, denies authorizing the killing of all onboard, and comments on protocols for military operations.
Hungarian Prime Minister Viktor Orban said on Saturday that preparations are under way for a substantial business mission to Moscow, describing the visit as an exclusively economic engagement.
Eighteen migrants drowned when their boat overturned 26 miles (40 km) south of the Greek island of Chrysi, after a Turkish cargo ship spotted the vessel and alerted Greek authorities.
FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
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