(2nd LD) Industry minister says U.S. likely to announce new Section 301 probe by end-Aug.

South Korea's industry minister stated on Thursday that the United States is likely to announce a new Section 301 investigation by the end of August. The announcement was reported from Seoul by South Korean news agency Yonhap.

Section 301 of the U.S. Trade Act grants the United States Trade Representative broad authority to investigate and take action against foreign trade practices that burden or restrict U.S. commerce. The anticipated probe could have significant implications for bilateral trade relations between Seoul and Washington.