The Special Act on Investment in the U.S. passed by the National Assembly last month [Seoul Yonhap News]

A senior official from the U.S. Donald Trump administration announced on the 2nd (local time) that South Korea's investment projects in the U.S. will be announced within weeks.

The official, speaking to reporters via phone briefing, mentioned South Korea's investment projects in the U.S. while explaining tariffs on pharmaceuticals and steel, stating, "It will be announced within the next few weeks."

The official also referred to Japan's decision to build a gas-fired power plant in Portsmouth, Ohio, as part of its commitment to invest in the U.S.

While no very specific timeframe was given, the fact that a senior U.S. official mentioned "within weeks" suggests that discussions between South Korea and the U.S. regarding the selection of investment projects in the U.S. may have progressed to some extent, drawing attention.

Projects such as the construction of an LNG export terminal in Louisiana, U.S., are being discussed as South Korea's first investment project in the U.S.

According to industry sources, the South Korean government is considering this project as a candidate based on proposals from the U.S. side and is gathering opinions from related companies.

The South Korean government is reportedly working diligently to establish an investment structure that expands the participation of Korean companies in the overall project, such as by having Korean companies supply the materials needed for terminal construction.

The "Special Act on Strategic Investment Management between Korea and the U.S." (Special Act on Investment in the U.S.) was passed by the National Assembly last month on the 12th with bipartisan agreement.

Of the $350 billion (529 trillion won) agreed upon for investment in the U.S. between South Korea and the U.S., $150 billion (226 trillion won) is designated for the shipbuilding industry, and $200 billion (302 trillion won) is to be invested in areas that promote the economic and national security interests of both countries.

Japan has decided to build small modular reactors and natural gas power facilities in the U.S. as its second phase of investment in the U.S. Japan's total investment in the U.S. amounts to $500 billion (755 trillion won), and the second phase project was announced when Japanese Prime Minister Sanae Takaichi visited the U.S. last month.