U.S. Commerce Secretary Howard Lutnick has reportedly said that companies investing one billion dollars in the United States will benefit from a fast-track process to facilitate their investments. 

Lutnick discussed the matter Saturday during a 40-minute meeting with a South Korean business delegation led by Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry.

According to multiple sources, during the meeting Lutnick asked South Korean businesses to invest as much as possible in U.S. manufacturing. 

When one of the business leaders presented a plan to invest tens of millions of dollars in the U.S., Lutnick reportedly expressed hope for an investment of “at least” one billion dollars. 

A source, however, said the commerce secretary only indicated that various types of support from the U.S. government would be available for investments over one billion dollars. 

Lutnkic appears to have explained the new U.S. investment policy signed by President Donald Trump, under which any individual or company that invests one billion dollars or more in the U.S. will receive fully expedited approvals and permits, including environmental approvals.