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South Korea to invest $350 bln in US, purchase $100 bln worth of LNG — Trump

The suggested volume of investment will be announced within the next two weeks when South Korean President Lee Jae Myung arrives in Washington

WASHINGTON, July 31. /TASS/. The Republic of Korea has agreed to invest $350 bln in the US economy and to purchase liquefied natural gas (LNG) and other energy resources from US companies totally worth about $100 bln, US President Donald Trump said.

"I am pleased to announce that the United States of America has agreed to a full and complete trade deal with the Republic of Korea," he wrote on his Truth Social page.

"The deal is that South Korea will give to the United States $350 billion dollars for investments owned and controlled by the United States, and selected by myself, as President. Additionally, South Korea will purchase $100 billion dollars of LNG, or other energy products and, further, South Korea has agreed to invest a large sum of money for their investment purposes," Trump added.

The suggested volume of investment will be announced within the next two weeks when South Korean President Lee Jae Myung arrives in Washington.

Trump expects the South Korean market to be fully open to American goods, including cars and agriculture products. That said, the US will maintain 15% duties on imports from South Korea.