(LEAD) New entity tasked with implementing Seoul's investment pledge to U.S. sets sail

(ATTN: CHANGES photos; ADDS details in paras 9-10)By Kang Yoon-seung

SEJONG, June 18 (Yonhap) -- State-run Korea-U.S. Strategic Investment Corp. (KUIC) officially set sail Thursday with the task of implementing South Korea's US$350 billion investment pledge to the United States in return for lower tariffs, the finance ministry said.

"Through the launch of the KUIC, the alliance between South Korea and the United States has developed beyond the economy and security to strategic industries, further advancing our solid partnership," Finance Minister Koo Yun-cheol said during the opening ceremony in Sejong.

"South Korea and the U.S. will combine each other's strengths to leap forward together as an indispensable hub in the global supply chain," Koo added.

Finance Minister Koo Yun-cheol speaks during the foundation ceremony of Korea-U.S. Strategic Investment Corp. in the central city of Sejong on June 18, 2026, in this photo released by the Ministry of Finance and Economy. (PHOTO NOT FOR SALE) (Yonhap)

The new company, based in the central city of Sejong, was launched after the National Assembly passed the Special Act for Korea-U.S. Strategic Investment Management in March.

In October last year, Seoul and Washington reached an agreement on South Korea's $350 billion investment pledge.

Under the law, the new company will operate for 20 years, with the government providing 2 trillion won (US$1.3 billion) for its establishment.

"The U.S., with the world's most advanced technologies and a massive market, has joined hands with South Korea, which boasts strong manufacturing capabilities," Koo said, noting the alliance will extend to future growth industries, including artificial intelligence (AI).

Koo also called for the KUIC to implement investment projects based on commercial viability and strategic considerations, helping competitive South Korean companies participate in the reshaping of U.S. manufacturing.

"With today's launch, KUIC becomes a key platform to help turn that commitment into action, facilitating and coordinating strategic investments that strengthen supply chains, create jobs and advance innovation in both countries," James Kim, chairman of the American Chamber of Commerce in Korea (AMCHAM), also said in a message during the ceremony.

"We are proud to serve as a bridge between the two business communities and to support deeper bilateral investment in strategic sectors, including semiconductors, AI, shipbuilding, energy, advanced manufacturing," the AMCHAM chief added.

On the previous day, Park Jong-won, who served as deputy trade minis