The Korean Minister of Industry visited the United States to consult on investment and customs issues in the United States

On 16 August, Korean Minister of Industry and Trade Kim Jong-jun left for the United States in the morning. He visited the United States about three weeks later, following his attendance last month in Washington at the inauguration of the Korea-American Shipbuilding Cooperation Centre. It has been learned that Kim Jong-Jin will focus his visit on consultations with the United States on US investment projects and on tariff measures related to excess capacity. Under a trade agreement between Korea and the United States last year, South Korea has committed to invest $350 billion in the United States, and the United States has reduced its “reciprocal duty” rate from 25 per cent to 15 per cent. The Government has preliminarily selected the joint gas-recycle power plant construction project as the first investment landing project for the United States, to be finalized during the course of the year, but the United States has recently pressed the Korean side to accelerate the implementation of the investment。