A South Korean government official revealed details about a two-hour teleconference held a day before the summit, involving US and South Korean presidents, which contained tense moments and shouting.
Early Meeting Details
The August 24th teleconference saw US President Donald Trump and South Korean President Lee Jae-myung, despite initial difficulties, announcing the signing of an agreement requiring Seoul to invest $350 billion in an American investment fund.
Fundus Disputes
In the Sunday talk about the fund, there were moments of tension, including shouting. The meeting was described as “sharp” to the point where the official feared it would “destroy the summit.” Political advisor Kim Yong-beom reported that the US tried to use the summit to increase pressure on Seoul to present detailed investment documentation during the discussion.
Trade Agreement Highlights
It’s worth noting that the U.S. administration agreed to reduce tariffs from 25% to 15%. Under the agreement, South Korean goods will be subject to an additional 15% tariff in the U.S., a 10% reduction from the original requested by the White House.
