Dallas: South Korea's industry minister, Kim Jung-kwan, has emphasized the need for Seoul and Washington to address unresolved matters linked to a $200 billion investment plan, which is part of ongoing bilateral tariff negotiations. Kim made these remarks upon his arrival in Dallas, Texas, on Sunday, as South Korea continues to face tariff pressures from the United States amid lingering trade issues.

According to Yonhap News Agency, South Korea agreed last year to invest $350 billion in the United States as part of a trade deal that reduced the U.S. tariff rate on South Korean imports from 25 percent to 15 percent. Of this, $150 billion was earmarked for cooperation in the shipbuilding sector, while discussions on implementing the remaining $200 billion investment are still underway.

Kim expressed that while there was an initial expectation to announce the projects by the end of August or early September, various specific issues have surfaced at the working level as they approach the final stages of negotiations. He noted the target is still to announce the investment details by the end of August, but emphasized the complexity of the issues at hand.

Kim's visit to the U.S. came shortly after the dismissal of South Korea's chief trade negotiator, Yeo Han-koo, amid increasing trade pressures from Washington. The U.S. government is expected to release findings from its investigation into alleged overproduction under Section 301 of the Trade Act by month's end.

Additionally, last month, the United States introduced new tariffs on imports from 60 trading partners, ranging from 10 percent to 12.5 percent, following a probe into forced labor under Section 301 of the Trade Act of 1974. South Korea, alongside Japan and Switzerland, is currently subject to a 12.5 percent tariff.

Separate from the forced labor-related investigation, the U.S. is also examining alleged excess industrial capacity involving 16 economies, including South Korea, under the same trade legislation.