Industry and Energy Minister Kim Jung-kwan has said the Donald Trump administration’s prediction that the U.S. will take 90 percent of the profits from South Korea’s investment fund “defies common sense” and that there is room for continued negotiations.

Speaking on a local radio show Tuesday, Kim said the only things that have been decided are the amount and the business areas where spending will be directed, adding that the investment fund could include loans or guarantees.

The minister’s comments come after U.S. Secretary of Commerce Howard Lutnick posted a social media message announcing the recent trade deal between the two sides and saying the American people will get 90 percent of the profits from Seoul’s investment, worth 350 billion U.S. dollars.

Kim said Trump praised Seoul’s proposal to help modernize America’s shipbuilding facilities and provide technical training on U.S. soil as part of a shipbuilding project worth 150 billion dollars, dubbed “Make American Shipbuilding Great Again.”

The minister added that Washington is expected to ask South Korean shipbuilders to build naval and merchant vessels, as well as to take part in the maintenance, repair and operation of naval assets.