South Korea to start reviewing US agreements

South Korea will set up a committee to conduct preliminary reviews of U.S. investment projects as it seeks to speed up the implementation of ⁠a $350 billion investment package pledged under a trade deal with Washington.



The move comes a day after parliament formed ‌apanel to fast-track a bill ⁠enabling the investment fund by the end of February, following U.S. President Donald Trump's threat to hike tariffs on South Korea, citing a delay in implementing the deal.



"Even if the Special bill is passed, it will take an additional three months for implementation after preparations such as the enactment of subordinate laws," Finance Minister Koo Yun-cheol told a policy meeting.



To bridge the gap, the government will establish a system to enable a preliminary ⁠review of potential projects until the enactment and implementation of the bill, Koo said, adding that any misunderstandings with Washington were undesirable.



Koo, who is also deputy prime minister for economic affairs, will lead a temporary team to run the investment fund, while the industry minister will chair the committee conducting preliminary reviews.