On Tuesday, South Korea’s cabinet gave the go-ahead for a presidential decree facilitating a substantial $350 billion strategic investment in the United States. This comes as part of a trade agreement reached last year between the two nations.
The decree outlines crucial terms and conditions, notably defining ‘commercial reasonableness,’ as a criterion for $200 billion in direct investments targeting U.S. strategic industries.
In a related move, Seoul committed $150 billion to shipbuilding cooperation, reciprocated by more favorable tariff terms from the U.S. This development follows U.S. President Donald Trump’s earlier tariff increase threats if Seoul failed to implement the trade framework.
(With inputs from agencies.)