Finance Minister Koo Yun-cheol speaks during a foundation ceremony celebrating the launch of Korea-U.S. Strategic Corporation held in Sejong, Thursday. Courtesy of Ministry of Finance and Economy
State-run Korea-U.S. Strategic Investment Corp. (KUIC) officially set sail Thursday with the task of implementing Korea's $350 billion investment pledge to the United States in return for lower tariffs, the finance ministry said.
"Through the launch of the KUIC, the alliance between Korea and the United States has developed beyond the economy and security to strategic industries, further advancing our solid partnership," Finance Minister Koo Yun-cheol said during the opening ceremony in Sejong.
"Korea and the U.S. will combine each other's strengths to leap forward together as an indispensable hub in the global supply chain," Koo added.
The new company, based in the central city of Sejong, was launched after the National Assembly passed the Special Act for Korea-U.S. Strategic Investment Management in March.
