The U.S. and South Korea agreed on the detailed contents of their tariff and investment negotiations following Wednesday’s bilateral summit in Gyeongju, refining a framework first agreed in late July. Presidential Chief of Staff for Policy Kim Yong-beom said Seoul will invest $200 billion in cash out of a $350 billion U.S. investment package, but with an annual ceiling of $20 billion to limit volatility in foreign exchange markets. The remaining $150 billion will be directed toward shipbuilding cooperation (MASGA) led by South Korean companies. Tariffs on South Korean automobiles and parts will fall from 25% to 15%, while