Korea-US Strategic Investment Corp. grilled over risk management
Korea-U.S. Strategic Investment Corp. was grilled by lawmakers from both ruling and opposition parties Tuesday during a National Assembly audit over its ability to manage risks associated with Korea's $350 billion U.S. investment commitment. The audit marked the first since the corporation's launch in June, as Korea has begun making payments under the investment agreement. "Had it not been for…
The Korea-US Strategic Investment Corp. faced intense scrutiny from lawmakers on Tuesday during a National Assembly audit, focusing on its capacity to manage risks linked to Korea's $350 billion investment in the United States. This marks the inaugural audit since the corporation's inception in June, as Korea commences payments under the investment pact.
Rep. Jung Sung-ho of the ruling Democratic Party of Korea highlighted the role of U.S. President Donald Trump's unconventional tariff policies, stating that without them, such investments would have been challenging to pursue. He questioned the corporation's legal acumen, noting that its risk management committee comprised only one American lawyer.
Rep. Lee Jong-wook from the main opposition People Power Party criticized the corporation's risk management, specifically referencing the handling of a $2.4 billion remittance for Project Star, the inaugural energy project in Texas selected as the firm's first investment venture. Despite having already remitted $2.4 billion for Project Star, the corporation's management practices have come under intense criticism.
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- Korea-US Strategic Investment Corp. grilled over risk management koreatimes.co.kr
