South Korea Delays Briefing on First U.S. Investment Project

South Korea's Ministry of Trade, Industry and Resources delayed a planned briefing to parliament this week on South Korea's investment projects in the United States for undisclosed reasons. According to Sina Finance, the ministry had originally planned to hold a closed-door parliamentary briefing on Thursday to outline the first investment project in the United States under last year's bilateral agreement. Last October, South Korea and the United States reached an agreement on Seoul's $350 billion investment pledge in exchange for lower U.S. tariffs. The package includes $150 billion for shipbuilding cooperation and $200 billion for projects in multiple strategic sectors. The ministry asked parliament's trade and finance committees to postpone the briefing, but did not give a specific reason. Observers said the delay appeared to stem from Seoul and Washington failing to reach an agreement in the final stage of negotiations. The delay is expected to affect plans to sign the agreement early on Friday. A ministry official said talks with the United States are ongoing.