South Korea Plans First US Investments Under New Trade Law as US Launches Section 301 Tariff Probe

South Korea's first plans to invest in the United States under a bilateral trade deal can be announced after a relevant law goes into effect in June, Industry Minister Kim Jung-kwan said upon arrival at Dulles International Airport near Washington on May 7, 2026. Kim made the remarks to reporters at the airport as the two countries discuss investment plans tied to last year's trade agreement.

U.S. With an annual cap of $20 billion. "As for specific (investment) projects, we may be able to discuss them after the law takes effect in June," he said.

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"Just because specific projects are announced, they don't simply proceed. They should be implemented in detail," Kim said. " The construction of a liquefied natural gas export terminal in Louisiana is under consideration as a potential first investment project.

Kim said that the two countries are not at a stage to say whether the Louisiana LNG terminal would actually be the first project. U.S. opened a Section 301 inquiry into South Korea, China and other trading partners in March.

The Section 301 investigations are meant to restore country-specific "reciprocal" tariffs that were struck down by the Supreme Court in February. Before the Supreme Court ruling, South Korean products were subject to a 15 percent reciprocal tariff. Kim said he anticipates the tariff might be within the 15 percent range and that South Korea will make its best efforts to ensure that the tariff will be within that range.

The Section 301 inquiry is to uncover "unfair" trade practices related to "structural" excess capacity and production, and to determine whether trading partners have taken steps to ban the importation of goods produced with forced labor. Yonhap reported the details from Washington on May 6.