Seoul, July 31 || South Korean companies could announce new investment plans in the United States as a follow-up to the tariff deal between Seoul and Washington, experts said on Thursday, with the anticipation for such new commitments growing ahead of an envisioned summit between the leaders of the two countries.
While no specific details have been confirmed, potential announcements would align with the deal that lowers tariffs on South Korean exports to the United States to 15 percent, down from the originally planned 25 percent, in exchange for a US$350 billion investment package pledged by Seoul.
U.S. President Donald Trump has said he will hold a summit with South Korean President Lee Jae Myung at the White House in two weeks, during which the leaders would likely discuss implementation and follow-up steps, reports news agency.
Lee said South Korea's investment pledge under the agreement would support bilateral cooperation in key economic areas. Of the total, $150 billion will be dedicated to helping revitalise the U.S. shipbuilding industry.