[Timeline] From Korea-US Tariff Agreement to Strategic Investment Project Announcement

[Timeline] From Korea-US Tariff Agreement to Strategic Investment Project Announcement

After long negotiations between the South Korean and US governments, the first strategic investment project in the US was announced on the 1st.

The governments of both countries announced on this day that they would pursue the construction and operation of a gas combined cycle power plant in Texas as the official first project for investment in the US, and discuss the construction of 8 large nuclear power plants and an Alaska liquefied natural gas (LNG) project in the US as subsequent projects.

This project announcement is a follow-up measure to the Korea-US tariff agreement in July last year and the signing of the 'Korea-US Strategic Investment Memorandum of Understanding (MOU)' in November of the same year.

The following is a major timeline from the Korea-US tariff agreement to the announcement of the investment project in the US.

◇ 2025

▲ March 30 = US President Donald Trump announces a policy to impose reciprocal tariffs on 'all countries'.

▲ July 8 = President Trump sends a letter to South Korea, stating that a 25% reciprocal tariff will be imposed from August 1.

▲ July 30 = The South Korean negotiating team, including Deputy Prime Minister Koo Yun-cheol, meets President Trump at the White House. An agreement is reached on a large-scale investment in the US worth 350 billion dollars (150 billion dollars in shipbuilding and 200 billion dollars in strategic investment), on the condition of lowering reciprocal tariffs and automobile tariffs from 25% to 15%.

▲ August 26 = Presidents Lee Jae-myung and Trump approve the contents of the tariff negotiations at the Korea-US summit at the White House.

▲ October 29 = Presidents Lee Jae-myung and Trump hold their second Korea-US summit on the occasion of APEC in Gyeongju. After the meeting, the South Korean government announces the conclusion of tariff negotiations.

▲ November 14 = The 'Joint Factsheet' (joint explanatory material) containing the details of the Korea-US tariff and security negotiations is finalized.

▲ November 14 = The South Korean and US governments sign an MOU related to the tariff agreement and investment in the US. Criteria such as 'commercial reasonableness' and an annual investment limit of 20 billion dollars are set.

▲ November 26 = A special law on investment in the US is introduced in the National Assembly as a follow-up measure to the Korea-US tariff negotiations.

▲ December 4 = The US federal government publishes the content of the retroactive application (as of November 1) of Korea's automobile tariffs and reciprocal tariffs of 15% in the Federal Register.

◇ 2026

▲ January 26 = President Trump announces on social media an expected increase in tariffs on South Korean products to pre-trade agreement levels, claiming non-compliance by the South Korean legislature.

▲ January 29-30 = Minister of Trade, Industry and Energy Kim Jung-kwan meets with US Secretary of Commerce Howard Lutnick and others in the US.

▲ January 29-February 4 = Former Deputy Minister for Trade Negotiations Yeo Han-koo meets with government, congressional, and industry officials, including the Office of the United States Trade Representative (USTR), in the US to convey South Korea's commitment to implementing trade and investment agreements.

▲ February 9 = The National Assembly forms a special committee to process the Special Law on Investment in the US.

▲ February 20 = The US Federal Supreme Court rules against the Trump administration's reciprocal tariffs. Immediately after the ruling, President Trump announces a 10% 'global tariff' based on Trade Act Section 122.

▲ February 21 = The Blue House states that it is closely monitoring additional measures by the US government and will continue friendly consultations based on the Korea-US tariff agreement.

▲ March 6 = Minister Kim Jung-kwan and former Deputy Minister Yeo Han-koo meet with Secretary Lutnick and USTR Representative Jamison Greer, respectively, in the US.

▲ March 12 = The Special Law on Investment in the US passes the National Assembly plenary session by bipartisan agreement.

▲ March 17 = The government resolves the Special Law on Investment in the US at a cabinet meeting.

▲ March 18 = The 'Korea-US Strategic Investment Corporation Establishment Committee' is launched to establish the Korea-US Strategic Investment Corporation, an agency dedicated to investment in the US.

▲ May 6-9 = Minister Kim Jung-kwan visits the US. Preliminary consultations on strategic investment and an MOU related to the Korea-US Shipbuilding Partnership Initiative are signed with Secretary Lutnick and others.

▲ June 9 = The government resolves the enforcement decree draft of the Special Law on Investment in the US at a cabinet meeting.

▲ June 18 = The Special Law on Investment in the US takes effect.

▲ June 18 = The Korea-US Strategic Investment Corporation is launched. Park Jong-won, former Assistant Minister for Trade at the Ministry of Trade, Industry and Energy, is appointed as the first president.

▲ July 22-25 = Minister Kim Jung-kwan visits the US to attend the opening ceremony of the Korea-US Shipbuilding Cooperation Center (KUSPC). He discusses investment in the US and trade issues with Secretary Lutnick and others.

▲ August 16-20 = Minister Kim Jung-kwan makes an emergency visit to the US to coordinate issues related to investment in the US. He states that a project announcement is expected in September.

▲ September 1-4 = Minister Kim Jung-kwan visits the US. During his visit, he discusses investment in the US with Secretary Lutnick.

▲ September 7 = The Ministry of Trade, Industry and Energy provides a confidential report to the National Assembly on the progress of follow-up negotiations for Korea-US strategic investment.

▲ September 10-12 = Minister Kim Jung-kwan visits the US to finalize investment negotiations. Minister Kim states, "It is true that we are close to an agreement on many issues, but there are still issues remaining until the final signing."

▲ September 17 = The Ministry of Trade, Industry and Energy postpones the National Assembly report on the first investment project in the US and its details, as resolving issues with the US is taking time.

▲ September 18 = President Lee Jae-myung states regarding investment in the US, "There are parts that are not easy to agree on, so we are discussing them again."

▲ September 22 = The Ministry of Trade, Industry and Energy provides a confidential report to the National Assembly's Finance and Economy Planning Committee and the Trade, Industry, Energy, SMEs and Startups Committee on the first investment project in the US. One project decided through the Korea-US Strategic Investment Project Management Committee and the operating committee under the Korea-US Strategic Investment Corporation, and two project promotion plans reflecting the interests of both countries are reported.

▲ October 1 = President Trump announces the confirmation of the investment project in the US.