Seoul: The industry ministry announced plans to create a dedicated team responsible for managing South Korea's investment projects in the United States, as part of a trade agreement between the two nations. The initiative aims to develop projects that will benefit Korean companies.

According to Yonhap News Agency, the Ministry of Trade, Industry and Resources presented this plan during a policy briefing to the National Assembly. The briefing comes as rival political parties have agreed to pass a special bill supporting Seoul's U.S. investments through parliament this week. This bill is intended to facilitate the implementation of Seoul's commitment to invest US$350 billion in the U.S., a pledge made under a trade deal with Washington finalized late last year in exchange for tariff reductions.

The proposed investment includes $150 billion allocated for shipbuilding cooperation and $200 billion earmarked for projects in strategic sectors. The ministry emphasized that the team will focus on identifying potential investment projects that possess "commercial rationality," ensuring Korean companies' participation and investment recovery.

For shipbuilding cooperation, the team plans to target low-risk projects by providing loans and credit guarantees, according to the ministry. The ministry also pledged to work closely with the U.S. to ensure that projects prioritized by Korea receive maximum support.

The Seoul government has been conducting preliminary reviews of potential investment projects in the U.S. since last month. This review process has taken on added urgency due to the administration of President Donald Trump threatening to increase tariffs on Korea, citing delays in Seoul's legislative process to implement the bilateral trade agreement.