Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy said on the 3rd that the $200 billion investment in the United States is "not just money we are giving to the United States," adding that "the benefits will go first to our corporations entering the United States so they can use them."
The Minister explained this approach to promoting a $350 billion U.S.-focused investment funds plan at the "mid-sized corporations CEO lecture" held at the Grand Hyatt Hotel in Yongsan-gu, Seoul, on the 3rd.
According to the government, $150 billion, or 43% of the total investment, is slated to be injected into shipbuilding investments by domestic corporations. Meanwhile, the $200 billion cash investment will be executed within an annual limit of $20 billion (about 28 trillion won).
The Minister also stressed that the $200 billion U.S. investment must go through consent procedures on both the Korean and U.S. sides. Kim said, "This investment will be pursued through joint consent by the Investment Committee chaired by U.S. Commerce Secretary Howard Lutnick and the Cooperation Committee chaired by me."
He also dismissed concerns surrounding where the U.S.-focused fund will invest. The Minister reiterated, "The $200 billion investment standard will focus on projects where commercial rationality is ensured—that is, businesses capable of generating cash flow."