Seoul:President Lee Jae Myung on Thursday urged a U.S. business council to actively seek new investment and business opportunities in South Korea to foster mutually beneficial cooperation between the two nations, the presidential office announced.
According to Yonhap News Agency, Lee made these remarks at a meeting with Evan G. Greenberg, chair of the U.S.-Korea Business Council (USKBC) and CEO of Chubb Group, held at Cheong Wa Dae. The discussion emphasized the evolving comprehensive strategic alliance between South Korea and the United States, rooted in a strong security partnership and extending into the economy and advanced technologies. Lee expressed his hope for South Korea to contribute to the advancement of U.S. industries.
Lee underscored the importance of reciprocal investment for "mutually complementary cooperation," urging the USKBC to explore new possibilities in South Korea, thereby allowing U.S. companies to expand their investments in conjunction with South Korean investments in the U.S. He also pointed out South Korea's emphasis on human resources, technology, and the defense industry as key areas for bilateral cooperation.
Greenberg highlighted the role of North America and Northeast Asia, especially the U.S. and South Korea, in driving global growth. He noted that the strategic investment agreement between the two countries would bolster their bilateral relations.
The USKBC, a significant business advocacy organization under the U.S. Chamber of Commerce, includes top U.S. companies involved in economic cooperation with South Korea. Earlier on Thursday, Greenberg participated in a plenary meeting of the U.S.-Korea and Korea-U.S. Business Councils, where business leaders advocated for faster regulatory approvals, tax and financial incentives, and visa reforms to aid major South Korean investment projects in the U.S.
Additionally, a joint declaration was made to enhance cooperation in critical industries such as semiconductors, artificial intelligence, batteries, energy, and shipbuilding. This meeting followed the announcement of Seoul's planned $200 billion investment in the U.S., part of a larger $350 billion commitment aimed at securing reduced U.S. tariffs on South Korean goods.