Seoul: South Korea is preparing to form a team of working-level specialists to support a newly launched government committee responsible for the preliminary review of potential investment projects in the United States. This initiative is part of a trade deal between the two countries, trade authorities announced on Sunday.

According to Yonhap News Agency, the move follows the inaugural meeting of the Korea-U.S. strategic investment memorandum of understanding (MOU) implementation committee held on Friday. The committee aims to explore potential projects as the National Assembly works to legislate a special bill to support these investments.

Led by Industry Minister Kim Jung-kwan and comprising vice ministerial officials from relevant ministries and chiefs of state-run financial institutions, the committee will act as the "single window" for overseeing investment consultations with the U.S. It will assess the commercial rationality and economic value of potential projects, as stated by the ministry.

The government plans to send officials from relevant ministries and include experts in finance, law, and the U.S. market to support the committee. This initiative follows the launch of the MOU implementation committee after U.S. President Donald Trump threatened to increase "reciprocal" tariffs and auto duties on Korea to 25 percent last month. The threat was made due to delays in Seoul's legislative process to implement the bilateral trade deal finalized late last year.

The MOU on strategic investment between the two countries was established as part of the deal, with South Korea committing a US$350 billion investment in the U.S. in return for tariff reductions. Earlier this month, the National Assembly also formed a special committee to expedite the legislation of the special bill on investment to the U.S.