South Korean industry minister to meet Lutnick, discuss US investment

ReutersMay 5, 2026 1:58 AM

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SEOUL, May 5 (Reuters) - South Korean Industry Minister Kim Jung-kwan will meet U.S. Secretary of Commerce Howard Lutnick this week to discuss Korean investment in the United States, Seoul said, as part of steps to implement a trade deal the countries signed last year.

Kim will arrive in Washington, D.C., on Wednesday and meet with key U.S. government officials including Lutnick, the ministry said. They will hold preliminary negotiations to proceed with South Korea's $350 billion investment pledge laid out in the joint factsheet signed in November 2025.

Kim will also discuss bilateral trade issues with lawmakers in the U.S. Congress, the ministry said.

Before heading to Washington, Kim will visit Ottawa on Tuesday and Wednesday to meet Canadian officials, including Industry Minister Melanie Joly and Energy Minister Tim Hodgson to discuss energy cooperation, the Industry Ministry said.

Kim is seeking to support South Korean conglomerate Hanwha Group's bid to supply Canada with a new fleet of submarines, the ministry said. The project is estimated by industry sources to be worth more than $12 billion.

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