South Korea on Friday established a government committee to conduct an initial review of possible investment projects in the United States as part of a bilateral trade agreement, the industry ministry declared.
The Korea-U.S. Strategic Investment MOU Implementation Committee convened its first meeting to identify potential projects, while the Korean National Assembly is considering a special bill to facilitate these investments, the Ministry of Trade, Industry, and Energy said.
The ministry stated that the committee will act as a centralized ‘single window,’ overseeing investment consultations with the United States and evaluating the commercial viability and economic value of proposed projects.
“Through investment projects in the U.S., the government will create opportunities for Korean companies to secure strong references in the U.S. market and expand exports of equipment and materials,” Industry Minister Kim Jung-kwan said.
He added that the government will aim to acquire advanced strategic assets abroad and create opportunities to integrate South Korea’s manufacturing strengths with the U.S.’s advanced technologies, emphasizing that all projects will be evaluated based on national interest.
Kim further noted that Seoul will enhance coordination with Washington to avoid any unnecessary misunderstandings related to the bilateral trade agreement.
The establishment of the MOU implementation committee follows U.S. President Donald Trump’s recent threat to reinstate reciprocal tariffs and raise auto duties on Korea back to 25%, citing delays in Seoul’s legislative process to enact the bilateral trade agreement finalized late last year.
The investment MOU between Korea and the United States was established as part of the trade agreement, with Korea pledging $350 billion in U.S. investments in return for tariff reductions.
Earlier this week, the National Assembly also formed a special committee to accelerate the passage of an investment bill supporting projects in the United States.
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