Overview
- Industry Minister Kim Jung-kwan met U.S. Commerce Secretary Howard Lutnick in New York before returning Sunday with no announced progress.
- U.S. tariffs on Korean goods are at 15% under the July framework, and Lutnick warned they could revert to 25% unless Seoul accepts the terms, citing Japan’s recent agreement as precedent.
- The sticking point is an investment structure that grants Washington control over project selection and profit distribution, which Korean officials describe as a "blank check."
- Seoul says the $350 billion demand equals about 84% of its foreign reserves and is pushing alternatives such as loans, guarantees, phased funding, and targeted projects.
- A large immigration raid at a Georgia battery plant that detained over 300 Korean workers has heightened visa and investor-confidence concerns during the talks.