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South Korea Says U.S. Projects Will Stay in Limbo Until Visa Fix

Kim Min-seok says the $350 billion investment pledge requires a currency-swap safeguard to protect the economy.

Overview

  • Prime Minister Kim Min-seok said meaningful progress on U.S.-based investments is virtually impossible until Washington provides a concrete solution for visas used by South Korean workers.
  • He noted that many specialists are reluctant to enter or re-enter the United States without safety assurances following the Georgia enforcement action.
  • The visa dispute stems from a raid at a HyundaiLG battery construction site in Georgia where hundreds of South Koreans were detained, then released and flown home about a week later as images of shackled workers fueled public anger.
  • Seoul and Washington are working on visa revisions as they negotiate a broader deal that includes a 15 percent tariff framework and the structure of a US$350 billion investment package.
  • Kim said any arrangement that imposes a significant fiscal burden may require parliamentary approval and warned delays could complicate an expected meeting between President Lee and President Trump during the APEC gathering in Gyeongju.