South Korea has delayed the planned announcement of its investment package for the United States as officials work to resolve outstanding procedural issues surrounding the agreement.
Foreign Minister Cho Hyun disclosed the delay on Thursday before leaving Seoul for Washington, where he is scheduled to meet US Secretary of State Marco Rubio on Friday.
The South Korean government had also postponed a briefing for a parliamentary committee on its proposed US investments. The briefing has been tentatively moved to September 22, although officials said the timing could still change.
The parliamentary briefing is regarded as one of the final steps before Seoul and Washington agree on the details of a major South Korean investment commitment in the United States.
Under a trade agreement reached last year, South Korea committed to invest $350 billion in US manufacturing in exchange for the United States limiting tariffs on South Korean imports to 15 percent. However, negotiations over how the investment package will be implemented are still ongoing.
Two officials in Seoul said the dates for both the parliamentary briefing and the final announcement had not yet been confirmed.
South Korean media outlet Newsis reported that the two countries could hold a memorandum of understanding signing ceremony on September 23, although this has not been officially confirmed.
The implementation of the broader trade agreement has already experienced delays. US President Donald Trump had previously threatened South Korea with higher tariffs over the slow progress.
Of the proposed $350 billion investment, $150 billion has been allocated to shipbuilding, while Seoul and Washington are still working out plans for the remaining $200 billion.
One proposal under discussion involves South Korea potentially acquiring a minority stake in Westinghouse, a US company specialising in nuclear reactor technology.
According to reports from South Korean media, the proposed investment could form part of a wider plan involving the construction of up to eight nuclear reactors in the United States. Six could use Westinghouse technology, while two would be based on a South Korean reactor design.
Another project being considered is a 6.3-gigawatt gas-fired power plant in Encinal, Texas. The project is reportedly valued at about $22 billion and would help meet growing electricity demand linked to artificial intelligence data centres.
South Korea is also considering taking part in a liquefied natural gas project in Alaska, according to the reports.
The latest delay comes as Cho prepares for discussions with Rubio in Washington, where the implementation of the investment agreement is expected to be among the issues on the agenda.
