The Ministry of Economy and Finance and the preparatory committee for the new state entity announced the appointment Wednesday.
Park, 57, served as deputy minister for trade at the Ministry of Trade, Industry and Energy until October last year.
During his career at the industry ministry, Park held senior posts overseeing middle-market enterprise policy, regional economic policy, automobiles and aerospace, and semiconductors and displays.
The new corporation will be responsible for raising, managing and operating funds tied to the $350 billion strategic investment package agreed under a Korea-U.S. memorandum of understanding signed in November last year.
The package includes investments in strategic industries and shipbuilding cooperation, as Seoul moves to implement its commitments under the bilateral investment framework.
The legal basis for the corporation was established under the Special Act for Korea-U.S. Strategic Investment Management, which passed the National Assembly in March and goes into effect Thursday.
The corporation will operate for 20 years from the date of its registration. Its authorized capital is set at 2 trillion won ($1.32 billion), to be paid in cash by the government in annual installments.
The special act is the legislative follow-up to months of tariff-driven negotiations that began after Washington imposed a 25 percent reciprocal tariff on South Korean goods in April last year.
Seoul later agreed to a framework that lowered the tariff rate to 15 percent in exchange for a $350 billion U.S. investment package, including $150 billion in shipbuilding cooperation.
The two countries signed the strategic investment MOU in November, but the tariff threat remained a key source of pressure as Washington pressed Seoul to turn the framework into law.
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