South Korea's Strategic Leap: Fast-tracking U.S. Investment Amid Tariff Tensions

South Korea is expediting a $350 billion U.S. investment package through a committee to review projects ahead of a crucial bill enabling the fund. This move addresses tariff threats from the U.S., with officials stressing the importance of maintaining smooth relations between the two nations.

South Korea is setting up a committee dedicated to conducting preliminary reviews of U.S. investment projects. This strategy aims to hasten the implementation of a substantial $350 billion investment package promised under a trade agreement with Washington, as confirmed by government officials.

This development follows a recent advance in South Korea's legislative efforts when parliament established a panel designed to fast-track a critical bill linked to the investment fund. Prompted by U.S. President Donald Trump's tariff threats, authorities emphasize a need for swift action to avoid disruptions.

Finance Minister Koo Yun-cheol, who also serves as deputy prime minister for economic affairs, will spearhead the operation of the temporary investment fund, while the industry minister will lead the review committee. The ultimate decision-making regarding investment projects will consider several factors, including commercial viability and foreign exchange market conditions.

(With inputs from agencies.)