The government has sent a working-level delegation to Washington for discussions on Korea’s potential investment projects in the United States, Seoul officials said Thursday, after Japan confirmed its first investment projects in the United States under their bilateral trade deal.
 
The delegation, led by Vice Trade Minister Park Jung-sung, left for the U.S. capital on Wednesday, according to the Ministry of Trade, Industry and Resources.

The Korean government launched a committee last week to begin a preliminary review of potential projects as part of efforts to uphold its bilateral trade deal with the U.S., finalized late last year, under which Seoul made a $350 billion investment pledge to Washington.

The details of the candidate projects have yet to be disclosed, but experts say energy development and power infrastructure are major areas the United States will likely show interest in.
 
On Tuesday, U.S. President Donald Trump announced the first set of Japan’s investment projects in the United States as part of the Asian country’s $550 billion commitment under a bilateral trade deal.
 
The projects are investments for the development of a natural gas generation facility in Ohio, the construction of a deep-water crude oil export facility in Texas and the creation of a synthetic industrial diamond manufacturing facility in Georgia.
 
Trump has recently been pressuring Korea to expedite its investment process in the United States, threatening to raise “reciprocal” tariffs and auto duties on the country back to 25 percent, citing delays in Seoul’s legislative process needed to move the trade deal forward.

Source: Koreajoogangdaily