A veteran in the investment field has been tapped to lead a U.S. Department of Commerce agency that plays a key role in implementing investments into the United States from countries including South Korea and Japan.

According to the U.S. Department of Commerce on July 2 (local time), Andrew Silverstein has been selected as the next director of the SelectUSA Investment Program.

The SelectUSA Investment Program was established in March of last year following an executive order by President Donald Trump.

The Commerce Department explained that the agency plays a central role not only in maintaining significant investments from both inside and outside the U.S. and expediting regulatory reviews, but also in ensuring that key U.S. partners fulfill the investment pledges made to President Trump to strengthen critical supply chains.

The Commerce Department added that these pledges amount to over 1 trillion dollars, including 550 billion dollars from Japan, 350 billion dollars from South Korea, and 250 billion dollars from Taiwan.

The Commerce Department introduced Silverstein as having over 30 years of experience in real estate, private equity, and investment banking, with a track record of planning and managing numerous large-scale investments.

(Photo: AP, Yonhap News)