American media is also paying attention, as the South Korean trade agreement seems difficult to reach with Trump seeking 350 billion dollars in investment.

After a charm offensive that culminated in a 490 billion dollar investment commitment in Japan, President Donald Trump plans to meet with South Korean leaders on Wednesday as the trade agreement with the country appears even more difficult to reach.

Senior officials in Washington and Seoul said the key issue of the agreement remains the arrangements behind Trump's request for South Korea to invest 350 billion dollars in the United States.

South Korean officials said direct investment could destabilize their economy, and they would prefer loan and loan guarantee methods. The country also needs a currency swap facility to manage its currency inflows into the United States. The gap between Trump's demands and the conditions South Korea can offer may overshadow Trump's meeting with South Korean President Lee Jae-myung in Gyeongju, a historic city that hosts the Asia-Pacific Economic Cooperation (APEC) summit every year. Oh Hyunjoo, the deputy national security advisor, told reporters that the negotiations have "slowed slightly" compared to expectations. "We have not yet reached an agreement on the structure, form, and profit distribution of the investment," he said on Monday.

This contrasts sharply with Trump's experience in Japan, where the Japanese government has been struggling to fulfill its 550 billion dollar investment commitment as part of an early trade agreement. Commerce Secretary Howard Lutnick announced a commitment of up to 490 billion dollars during a dinner with business leaders in Tokyo.

During his visit on Tuesday, Trump connected with Japan's new Prime Minister Sanae Takaichi, who joined him in giving a speech to the U.S. military on an aircraft carrier, followed by the announcement of several major U.S. energy and technology projects funded by Japan.

In contrast, U.S. Treasury Secretary Scott Bentsen told reporters on Air Force One on Monday that the South Korean agreement was not yet ready. "There are still many details to be worked out," he said, although he hinted that both sides were close to reaching an agreement.

Currently, South Korean cars still face a 25% tariff, putting automakers like Hyundai and Kia at a disadvantage compared to Japanese and European competitors facing a 15% tariff.

Lee Jae-myung took office in June and had a friendly meeting with Trump at the White House in August, when Trump lavished him with praise. However, some tensions have arisen since then, particularly in September when the U.S. conducted an immigration raid on a Hyundai factory in Georgia. Over 300 Koreans were detained, sparking anger and a sense of betrayal. Lee said that unless the visa system is improved, companies might hesitate to invest in the future. "If not done, establishing local factories in the U.S. will either face serious disadvantages or be very difficult for our companies," he said. "They will doubt whether they should do it." The South Korean Foreign Ministry said in early October that the U.S. has agreed to allow Korean workers to come to the U.S. with short-term visas or a visa waiver program to help build the U.S. industrial base.

Original: www.toutiao.com/article/1847267301862412/

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