South Korea Blasts Trump's Investment Claims as 'Tit-for-Tat Move'
US President Donald Trump's recent announcement of a 'colossal' South Korean investment package has been met with a sharp rebuke from Seoul. The deal, which includes the construction of natural gas-fired power plants in Texas and nuclear facilities across the US, was touted by Trump as a done deal. However, just hours later, South Korean President Lee Jae Myung clarified that further negotiations were still necessary.
The clarification comes amid growing tensions between the two nations over their trade agreement. Observers say Trump's announcement appears to be an attempt to bolster the Republican Party's economic record ahead of the upcoming midterm elections in November.
Trump had claimed that South Korea would invest $1 billion in the construction of a liquefied natural gas (LNG) project in Alaska, as well as eight large-scale nuclear power plants across the US. However, Seoul's clarification suggests that these plans are far from finalised.