Trade, Industry and Energy Minister Kim Jung-kwan made the remarks after arriving in Washington, D.C., on Wednesday for a four-day visit to discuss investment and trade issues with U.S. officials including Commerce Secretary Howard Lutnick.
"We prefer projects that can generate stable cash flows," Kim told reporters. "From that perspective, energy-related projects appear to be more suitable, and our discussions with the U.S. are focused on those projects."
Seoul and Washington have been discussing specific investment projects under the trade deal reached last fall, which includes Seoul's commitment to invest US$350 billion in the U.S., with an annual investment cap of $20 billion.
"We are almost in the final stage," Kim said. "If we reach agreements on key issues, I think we may be able to make an announcement by late August or September."
Kim added that the two countries have been in "very close" discussions to ensure the investment benefits both sides, stressing that commercial viability would be a key factor in selecting projects.
"We will do our best to achieve a win-win outcome for South Korea and the U.S.," he said.
During his stay in Washington, Kim is also scheduled to attend an opening ceremony on Thursday for a center established under the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI).
Copyright ⓒ Aju Press All rights reserved.
