Minister Kim Jung-kwan Says First U.S. Investment Project Under Discussion Is in Energy, Announcement Due by End-August

[Financial News]  
Minister of Trade and Industry Kim Jung-kwan said on the 22nd local time that the first target for U.S. investment is being discussed with a focus on the energy sector, and that an announcement is expected as early as the end of August.
After arriving at Washington Dulles International Airport near Washington, D.C., Kim met with reporters and said, "From our perspective, projects that can generate stable cash flow are naturally better projects." He added, "We think energy-related projects are more favorable in that regard, so we are discussing those projects with the U.S. side."
Kim also said, "We are now in the final stages," adding, "If we wrap up deals on the key issues well, I think it could be announced at the end of August or sometime in September."
Meanwhile, Kim will meet with key administration and congressional figures, including United States Secretary of Commerce Howard Lutnick, and will also attend the opening ceremony of the Korea-U.S. Shipbuilding Cooperation Center on the 23rd.
In addition, during his visit to the United States, Kim plans to explain South Korea's position on potential tariffs under Section 301 of the Trade Act, which could be announced as the tariffs under Section 122 of the Trade Act expire. Kim said, "Since the 24th is when the global tariffs expire, we plan to discuss that issue as well."

[email protected] Park Ji-young Reporter