On Saturday, a presidential advisor from South Korea stated that Seoul cannot pay $350 billion upfront for investments in the United States, as suggested by President Donald Trump as part of a trade agreement to reduce tariffs. The advisor noted that the country is seeking an alternative solution.
Just a day earlier, Trump insisted that South Korea should make this upfront investment, but Seoul made it clear that it would face a financial crisis if it complied with the U.S. demands without any assurances in place.
In July, South Korea committed to investing $350 billion in American projects, but it rejected U.S. demands for control over those funds.