Korea–US Strategic Investment Temporary Task System Launched, Implementation Committee Forms Working Group

[Financial News]
The government has convened the "Korea–US Strategic Investment Memorandum of Understanding (MOU) Implementation Committee" and begun forming a working-level task force to support its work, in order to swiftly move forward with investment in the United States.
According to trade authorities on the 15th, the government set up a temporary task system at the Ministerial Meeting on External Economic Affairs on the 10th. This system allows candidate projects to be reviewed even before the Special Act on Investment in the United States is passed. Following this, on the 13th, the first meeting of the "Korea–US Strategic Investment MOU Implementation Committee" was held, where participants shared recent developments in the implementation of the Korea–US customs agreement and discussed how to review candidate Korea–US strategic investment projects and the procedures for moving them forward.
The committee is chaired by Minister of Trade, Industry and Energy Kim Jeong-gwan. Vice ministers from relevant ministries, including the Ministry of Trade, Industry and Energy, the Ministry of Finance and Economy, the Ministry of Planning and Budget, and the Ministry of Foreign Affairs, take part, along with the heads of state-run financial institutions such as Korea Development Bank (KDB), the Export-Import Bank of Korea (KEXIM), and Korea Trade Insurance Corporation (K-SURE).
Immediately after its launch, ministries and institutions reportedly began dispatching working-level officials to form the Implementation Committee’s working group. The group is said to include personnel from the relevant ministries and institutions needed to assess the business feasibility of candidate investment projects in the United States, as well as experts in finance, law, and markets to support on-the-ground investment in the United States.
Last year, Korea pledged to invest a total of 350 billion dollars in the United States. Excluding 150 billion dollars earmarked specifically for the shipbuilding industry, the remaining 200 billion dollars is to be invested in areas that enhance the economic and national security interests of both countries. Previously mentioned target sectors for US-bound investment include energy, semiconductors, pharmaceuticals, critical minerals, artificial intelligence (AI), and quantum computing.
The Implementation Committee plans to ensure that investment projects in the United States are pursued in line with the national interest through close cooperation among the relevant ministries and institutions.
Once the National Assembly passes the Special Act on Investment in the United States and, under that law, an investment fund and a consultative committee are established, the Implementation Committee intends to hand over its review results to the consultative body so that investments in the United States can be executed quickly. Because it will take considerable time for the Special Act to pass the National Assembly and for the investment fund and investment committee to be formed through normal procedures, the administration aims to get a head start by reviewing candidate projects for investment in the United States and accelerating the projects.
At the first meeting of the Implementation Committee, Minister of Trade, Industry and Energy Kim Jeong-gwan said, "Through this committee, we will thoroughly prepare for the implementation of the Korea–US customs agreement and help reduce trade-related uncertainty for our companies in the United States," adding, "Through investment projects in the United States, we will help Korean companies build a track record in the US market and create opportunities to increase exports of equipment and materials."

aber@fnnews.com Reporter Park Ji-young Reporter