President Lee: "We will support the entry of our companies into the US, including shipbuilding and semiconductors, with a $350 billion fund"

Differences in Perspectives with the United States…Possible 'Different Dreams in the Same Bed' Like Japan

President Lee Jae-myung wrote on social media on the 31st (30th, US Eastern Time), after the conclusion of the tariff negotiations with the United States, stating, "We have overcome a huge hurdle."

He said, "Negotiations with the United States, the world's largest market, were the first trade task for our sovereign government," and added, "Although the timeline was tight and the circumstances were not easy, the government focused solely on prioritizing the national interest in the negotiations."

He continued, "With this agreement, the government has eliminated uncertainty in the export environment and, by matching the US tariffs to be lower or at the same level as major competitor countries, has created conditions for us to compete on equal or superior terms with other major countries."

He particularly introduced, "The $350 billion fund included in the trade agreement will solidify the foundation for bilateral strategic industry cooperation, and will play the role of actively supporting our companies’ entry into the US market in industries where we have strengths, such as shipbuilding, semiconductors, secondary batteries, biotechnology, and energy." He also explained, "Of this, $150 billion is a dedicated shipbuilding cooperation fund that will strongly back our companies entering the US shipbuilding industry."

President Lee emphasized, "It is important to achieve a mutually beneficial result, not just for one side to benefit," adding, "This agreement is the result of the US goal to revive manufacturing and our aim to expand the competitiveness of our companies in the US market coming together."

President Trump had previously stated that the $350 billion would be spent on 'projects designated by himself', which is a different nuance. Earlier, Trump also used the phrase 'at my direction' regarding the creation of a $550 billion investment fund with Japan. Howard Lutnick, the Secretary of Commerce, commented, "Japan gave $550 billion to President Trump and told him 'Fix what you want to fix.'" However, the Japanese side's explanation differs from this.

There are also differences in perspective between the US and South Korea regarding who will benefit from the returns of the investment. President Trump declared, "Korea will provide a $350 billion investment to the United States, which is owned and controlled by the US government and directly designated by me as President." Although Trump tends to present situations favorably for himself, regardless of the other country's position or the actual negotiation details, this indicates that there may be differences in viewpoints during the implementation process.

President Trump said that the specifics of the negotiations would be decided in a summit meeting with President Lee Jae-myung to be held within two weeks. This implies that the 'real negotiation' to fine-tune the details is just beginning.

Washington, D.C. = Lee Sang-eun, Correspondent selee@hankyung.com