As Japan finalized its first project for investment in the United States, prompting expectations that U.S. pressure for investment will intensify, the Korean government also sent a delegation to the United States for investment talks.
According to the Ministry of Trade, Industry and Resources on the 19th, a working-level negotiating team led by Director General Park Jeong-seong departed for the United States the previous day. The team was said to be set to meet local U.S. Department of Commerce officials to hold intensive discussions on leading candidate projects for investment in the United States, business feasibility, and implementation procedures.
This trip to the United States is seen as advance preparation to execute investments immediately after the passage of the special law on investment in the United States, which is expected to clear the National Assembly in early March. It signals an intent to launch concrete investment projects as soon as the institutional framework is in place.
Analysts say the government's push for speed was influenced by President Donald Trump recently mentioning the possibility of reimposing tariffs due to delays in handling the special law. The National Assembly formed a special committee this month and initiated a fast-track process, and the government is also raising its response level by forming an implementation committee early, even before the law passes.
Kim Jung-kwan, Minister of the Ministry of Trade and Industry (MOTI), was also said to be continuing investment talks by holding video conferences to exchange views frequently with Minister Howard Lutnick.
Once working-level negotiations move into full swing, Korea's first project for investment in the United States is also expected to take shape early. For now, projects related to power and energy, and critical minerals are being discussed as strong candidates.
Earlier, Japan unveiled three initial projects for investment in the United States. They include creating a large 9.2 GW gas-fired power plant complex in Ohio, building deepwater crude oil export infrastructure in the Gulf of Mexico, and constructing an industrial synthetic diamond production facility in Georgia. The total investment amounts to $36 billion.