President Lee: "Draft Agreement on U.S. Investment Contains Difficult Parts... Fierce Debates Underway"

On September 18, President Lee Jae-myung commented on the ongoing negotiations regarding investment in the United States, stating, “It is said that we have almost reached an agreement, but after reviewing the details, there are some aspects that are difficult to accept, so we are in the process of further discussions.”

On the 18th, citizens at the Seoul Station concourse are watching the live broadcast of President Lee Jae-myung's seventh press conference. 2026.9.18 Photo by Hyunmin Kim

During a press conference that morning at the State Guest House of the presidential office, President Lee said, “We are fiercely debating and negotiating to ensure that the (investment) project is structured in a way that does not harm Korea’s national interest and benefits both South Korea and the United States.”

Previously, the Ministry of Trade, Industry and Energy—which is currently in negotiations with the United States over the selection of a U.S. investment project—had reportedly planned to provide a confidential briefing to the National Assembly on the outcome of the negotiations the day before, but the briefing was suddenly postponed. Consequently, the signing and announcement of a memorandum of understanding (MOU) between South Korea and the United States, which had been expected to take place on this day, was also delayed. Observers attribute this to the failure to narrow differences between the two countries during the final stage of negotiations.

President Lee expressed his concerns, saying, “The issue of investment in the United States is extremely complex and challenging. It is something that genuinely has a multifaceted impact on Korea-U.S. relations.” He went on to say, “There were a few contentious issues during the initial agreement phase. I did not want to pursue the investment, which involves about 350 billion dollars—approximately 500 trillion won—of taxpayer money, but, considering tariffs, our relationship with the United States, and the agreements made by neighboring countries such as Japan, Taiwan, and Singapore, we ultimately decided to reach a compromise.”

President Lee added, “The law stipulates that only commercially reasonable projects are allowed for U.S. investment. As we embarked on detailed negotiations for the selection of investment business, that in itself became another challenge.” He continued, “Although the working-level negotiation team faces difficulties, I am losing sleep over these concerns as well. It is a tremendous responsibility.” He further emphasized, “Not that the United States necessarily operates in this manner, but we should not be swayed by impulsiveness, relationships, pressure, or coercion. The national interest is truly paramount.”

This content was produced with the assistance of AI translation services.