[Breaking] Kim Jung-kwan: "Decision Made on One U.S.-Bound Project; Implementation Plans for Two Others Reported to National Assembly"

[Financial News] The government reported plans to pursue three investment projects in the United States to the National Assembly: one project for which it has decided to move forward and two candidate projects reflecting the interests of both Korea and the United States. However, implementation has not yet been specifically decided for the two projects, and feasibility reviews and consultations between the two countries are expected to continue.
Minister of Trade and Industry Kim Jung-kwan attended the plenary session of the National Assembly Trade, Industry, Energy, SMEs and Startups Committee on the 22nd and reported plans for candidate investment projects in the United States under the Korea-U.S. Strategic Investment Act.
Kim stated, "The government has actively identified projects that would benefit us and consulted with the U.S. side. We have carefully examined the projects proposed by the U.S., consistently applying commercial rationality as our guiding principle."
The government reported to the National Assembly Trade, Industry, Energy, SMEs and Startups Committee on related matters, including the first candidate project for investment in the United States reviewed and approved by the Korea-U.S. Strategic Investment Operations Committee on September 7 and 21.
Kim said, "I would like to report one project that the government has decided to pursue after it passed through the Project Management Committee, chaired by the Minister of Trade and Industry, and the Operations Committee, chaired by the Minister of Finance and Economy."
The implementation of the other two projects has not yet been finalized. Kim explained, "Although these are not projects for which a specific decision to proceed has been made, I would like to report the implementation plans for two projects that reflect the interests of both countries."
The government explained that it made commercial rationality a core principle in reviewing investment projects in the United States. It also considered whether the investments would help Korean companies enter the U.S. market and expand into global markets, rather than simply involve an injection of funds.
Kim emphasized, "We needed to take a balanced approach from the perspective of the national interest so that investment in the United States would go beyond simply injecting and recovering funds, expand our companies' presence in the U.S. market, and ultimately serve as a springboard for entering global markets."
The governments of Korea and the United States agreed last year on the basic direction of strategic investment in the United States in connection with their tariff negotiations, after which Korea began establishing the relevant institutional framework. The Korea-U.S. Strategic Investment Special Act passed the National Assembly in March following an agreement between the ruling and opposition parties, and the Korea-U.S. Strategic Investment Corporation was launched in June.
The report moved behind closed doors after the public briefing because it included details of consultations between Korea and the United States and specific investment terms for individual projects.
Kim said, "The government will continue to put the national interest first, carefully review investment projects in the United States, and ensure that any necessary follow-up procedures are carried out without disruption."
[email protected] Kim Kyung-min Reporter