US-South Korea
South Korea's first US investment announcement set after June law
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Industry Minister Kim Jung-kwan said specific investment projects in the United States can be discussed after a new law takes effect on June 18. The move aligns with last year's trade agreement committing South Korea to invest $350 billion in the US.
E-commerce firm Coupang Inc. denied allegations that it lobbied U.S. government officials to pressure South Korea following a November data leak controversy. The company rejected claims of security-related lobbying as unfounded.
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South Korea's Finance Minister Koo Yun-cheol and US Treasury Secretary Scott Bessent agreed in Washington that excessive volatility in the Korean won against the dollar is undesirable. Seoul's finance ministry said the two will continue consultations on foreign exchange market trends.
U.S. President Donald Trump is set to arrive in South Korea on Wednesday from Japan for high-stakes summits with President Lee Jae Myung and Chinese President Xi Jinping during the Asia-Pacific Economic Cooperation (APEC) gathering in Gyeongju. This marks Trump's first Asia trip in his second term, focused on securing trade and investment deals amid market turmoil and tariff threats. The Korea-U.S. summit will center on finalizing a July framework trade agreement.