Seoul: National Security Adviser Wi Sung-lac announced that South Korea is unable to fulfill its $350 billion investment pledge to the United States in cash. This pledge was part of a framework deal that lowered U.S. tariffs, following U.S. President Donald Trump's statement that the investment package would be made "upfront."

According to Yonhap News Agency, Wi made these remarks as both nations work on finalizing the framework deal that reduced U.S. tariffs from 25 percent to 15 percent. He clarified to reporters that South Korea finds it unfeasible to provide the investment amount in cash. Wi also expressed uncertainty about whether President Trump's comments fully considered Seoul's stance, suggesting they might reflect the U.S. government's basic position.

South Korean officials have indicated that the $350 billion pledge involves safeguards such as a currency swap and is meant to finance projects rather than a direct cash payment. Wi also mentioned his unawareness of the intention behind U.S. Commerce Secretary Howard Lutnick's remarks on possibly increasing the investment amount beyond the initial pledge.

With negotiations ongoing, Wi advised caution regarding the ruling Democratic Party's criticism of U.S. demands. He emphasized the need for a balanced approach in discussions, particularly concerning the visa issue. The planned working group aims to improve the U.S. visa system for Korean workers after the recent detention of over 300 Korean workers by U.S. immigration authorities.

Wi highlighted that while improving the visa system would aid Korean companies' investment processes, it is not directly linked to the investment pledge. He cautioned against handling the matter emotionally and advised against setting unrealistic targets if the government decides to create a new visa category.

Amid cautious optimism about a potential meeting between President Trump and North Korean leader Kim Jong-un during the Asia-Pacific Economic Cooperation summit, Wi remained reserved, noting a lack of change in North Korea's stance.