[Photo of Prime Minister of the Republic of Korea Kim Min-seok]

Prime Minister Kim Min-seok stated that South Korea's investment projects in the United States will remain uncertain until the visa issue is resolved.

According to Bloomberg News on the 24th, Prime Minister Kim said in an interview with Bloomberg in Seoul the previous day, "Unless the visa issue is resolved, meaningful progress is virtually impossible."

Prime Minister Kim stated, "While the project has not been completely halted or officially suspended, it will be very difficult for many people to enter or re-enter the United States until this issue (the visa issue) is resolved."

He also said, "The visa issue is also casting uncertainty on the $350 billion investment fund for the United States agreed upon during trade negotiations last July."

Prime Minister Kim also said, "The $350 billion promised to the U.S. for investment represents more than 70% of Korea's foreign exchange reserves, and without a currency swap agreement with the U.S., the Korean economy will suffer a serious shock."

Kim Hong-e/Reporter/Simultaneous-Interpreter 

Alexander Utt. /Foreign Freelancer Reporter