[Video] Koo Yun-cheol: "Temporary framework for investment in the United States to operate until special law takes effect"

[Financial News]
Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol stated at the Ministerial Meeting on External Economic Affairs held at Government Complex Seoul on the 10th, "Until the enactment and implementation of the special law on managing strategic investment between Korea and the United States, we will establish a system that allows preliminary reviews of candidate projects identified by both sides, within the scope of what is administratively possible."
Koo said, "The Ministerial Meeting on External Economic Affairs will serve as a temporary control tower, and we will operate the Strategic Investment MOU Implementation Committee on a temporary basis, with the Minister of Trade, Industry and Resources and vice ministers from relevant ministries taking part."
He explained, "Since these procedures are preliminary reviews carried out within the bounds of what is administratively feasible before legislation, final investment decisions and execution will proceed only after the special law is passed and implemented, taking into account the commercial viability of each project and overall financial conditions, including the foreign exchange market."
Koo added that even if the special law on managing strategic investment between Korea and the United States is passed by the National Assembly, "it will take an additional three months or so to prepare subordinate regulations and other measures before it can be implemented," explaining the rationale for activating the temporary framework. Photo and video by Reporter Seo Dong-il.





tekken4@fnnews.com Reporter Seo Dong-il Reporter