From our correspondent
NEW DELHI – At the very least, it would take a while earlier than the South Korea begin investing the $350 billion promised to the administration final November within the United States Trump in alternate for one 15% discount in duties on its exports. Seoul doesn’t appear, no less than for the second, to be keen to again down from the very onerous dedication made to place an finish to a commerce negotiation performed with extortionate tones. But in an interview with the Reuters company, Finance Minister Koo Yun-cheol mentioned bluntly that it’s “unlikely” that there will probably be investments within the first half of the 12 months.
Referring to a clause within the settlement underneath which South Korea would make investments a most of $20 billion per 12 months, Koo defined that “even if, for example, a nuclear power plant project were selected, procedures would have to be followed for site identification, plant design and construction, so the initial cash flows would be much smaller” than the ceiling established with the US president’s negotiators.
A method that hides a criticality and a hope behind a technical rationalization. The first has to do with the current, precipitous depreciation of received which has already misplaced greater than 2% towards the greenback because the starting of the 12 months and through yesterday’s session fell to its lowest stage in 16 years, earlier than retracing.
Today January sixteenth Koo he declared that with these alternate charges “large investments cannot be made, at least for this year”, including that the South Korean authorities haven’t any intention of exceeding regulatory interventions to decelerate the decline of the foreign money.
https://www.ilsole24ore.com/art/dazi-corea-sud-frena-investimenti-350-miliardi-promessi-trump-AIAKFEu