Seoul, February 15 – South Korea is preparing to form a team of specialists to support a newly established government committee tasked with conducting a preliminary review of potential investment projects in the United States as part of a trade deal between the two countries, trade authorities said on Sunday.
The move comes shortly after the Korea-U.S. strategic investment memorandum of understanding (MOU) implementation committee held its inaugural meeting on Friday to explore potential projects, as the National Assembly is also seeking to pass a special bill to support possible investments, according to the authorities, reports Yonhap news agency.
Led by Industry Minister Kim Jung-kwan and comprising vice ministerial officials from relevant ministries and chiefs of state-run financial institutions, the committee will serve as the "single window" overseeing investment consultations with the U.S. and assessing the commercial viability and economic value of potential projects, according to the ministry.
The government reportedly plans to send officials from relevant ministries, as well as include financial, legal and market experts on U.S. investments to support the committee.
The launch of the MOU implementation committee came after U.S. President Donald Trump threatened to raise "reciprocal" tariffs and auto duties on Korea back to 25 percent last month, citing a delay in Seoul's legislative process to implement the bilateral trade deal finalized late last year.
The MOU on strategic investment between the two countries was made as part of the deal, with Korea committing a US$350 billion investment in the U.S. in exchange for tariff cuts.
Earlier this month, the National Assembly also formed a special committee to expedite the legislation of the special bill on investment to the U.S.
Meanwhile, South Korea launched a government committee on Friday to begin a preliminary review of potential investment projects in the United States as part of a trade deal between the two countries, the industry ministry said.
The committee held its inaugural meeting to explore potential projects, as the National Assembly is also seeking to pass a special bill to support possible investments, according to the Ministry of Trade, Industry and Resources.
The committee will serve as the "single window" overseeing investment consultations with the U.S. and assessing the commercial viability and economic value of potential projects, the ministry explained.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: