$350 Billion US Investment Law Takes Effect Today; First Target Under Scrutiny

The special $350 billion US investment law, established by South Korea and the United States to manage strategic investments, officially goes into effect starting today (the 18th).

Interest is high regarding which strategic industries will receive the $200 billion allocated from the promised $350 billion investment. The Korea-US Strategic Investment Corporation, launched concurrently with the law's implementation, will invest up to $20 billion annually in sectors agreed upon by both countries.

Currently, energy and power projects are being discussed as the first investment targets. Specifically, projects like liquefied natural gas (LNG) terminal construction or nuclear power generation are gaining attention due to the increasing electricity demand driven by the AI industry's development in the US.

The government maintains a cautious stance, prioritizing national interests. Specific details will be determined through legal procedures, including review by the project management committee and consultations with the US government. The recent surge in the exchange rate, exceeding 1,500 won per dollar, could also act as a significant variable, posing risks to the foreign exchange market.

These investments in the US have the potential to elevate the Korea-US economic and security alliance to a new level.