Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources said the energy institutional sector is under discussion as the first project for a $200 billion investment in the United States under the Korea-U.S. trade agreement.
The Minister said at Dulles International Airport near Washington, D.C., on the 22nd (local time), "A project that can generate stable cash flow is, after all, a better project," and "We think the favorable project is an energy-related project. We are discussing such projects with the United States."
The Minister said, "We are almost at the final stage," adding, "I think we may be able to do it in late Aug. or in the Sept. schedule." Kim Yong-beom, the presidential chief of staff for policy, also said the first U.S.-bound investment project would take shape in Aug.–Sept.
To discuss U.S.-bound investment and trade issues, the Minister will meet U.S. Secretary of Commerce Howard Lutnick and others in Washington, D.C., from the 22nd to the 25th. The Minister is also scheduled to attend the opening ceremony of the Korea-U.S. Shipbuilding Cooperation Center on the 23rd.