Korean official: South Korea's $350 billion investment in the United States is led by policy institutions.

Lee Hyeong-il, the first vice minister of planning at the South Korean Ministry of Economy and Finance, stated that as part of the trade agreement reached with Washington, South Korea has committed to investing $350 billion in strategic industries in the United States. This commitment may be led by national policy agencies, which will provide funding based on specific circumstances. According to the trade agreement reached in July of this year, which set the upper limit for U.S. tariffs at 15%, the two countries agreed to provide a basket of funds to support industries such as shipbuilding, key minerals, batteries, pharmaceuticals, semiconductors, and artificial intelligence. However, several South Korean officials have stated that the implementation details of this plan are still being discussed. Lee Hyeong-il said in an interview on Wednesday, "We essentially see the $350 billion as a cap, so it will not be raised all at once, but will be provided in a targeted manner based on potential situations." Lee Hyeong-il stated, "We plan to prepare primarily through policy financial institutions," but he refused to confirm whether the Korea Development Bank, a policy bank, will be planning this action.