Trump and Seoul Dispute $8.4 Billion Oil Project in Trade Deal

Key Facts

1President Trump stated that the South Korea trade deal includes an $8.4 billion U.S. oil recovery project.

2Seoul disputed the claim, stating the oil project was not part of the trade agreement.

President Trump stated that the South Korea trade deal includes an $8.4 billion U.S. oil recovery project. Seoul disputed the claim, stating the oil project was not part of the signed trade agreement, according to Reuters.

The discrepancy between the two governments suggests a diplomatic rift regarding the specific terms of bilateral trade negotiations. In regional economic context, South Korean business confidence was reported at 79 on September 28, 2026, down from a previous reading of 81.