President Yoon “Korea and the US are the best partners for building a stable supply chain…because we can trust each other”

President Seok-Yeol Yoon said, “Korea and the U.S. share various values ​​and are economically closely connected, making them the best partner for establishing a stable supply chain.”

President Yoon, who is on a state visit to the United States, said at the Korea-US Business Roundtable held at the American Chamber of Commerce in Washington DC on the 25th (local time), adding, “(This is) because we can trust each other.”

In particular, he stressed that “cooperation between the two countries is important in cutting-edge fields such as space, artificial intelligence, quantum, and SMR,” and that “cooperation between the two countries can create great synergy between them.”

“The two countries should demonstrate global leadership together through exchanges and cooperation in the field of high-tech science and technology, such as joint technology development, demonstration cooperation, human exchanges, and international standard cooperation,” he said.

“This year marks the 70th anniversary of the ROK-US alliance,” said President Yoon.

He also emphasized, “Korea’s growth from the ruins of war to today’s vibrant economic power is also attributed to the ROK-US alliance.

He said, “I think mutual investment expansion and friend shoring in high-tech industries such as semiconductors, batteries, electric vehicles, and bio are more important than ever.”

In addition, he said, “Recently, Korean companies have expanded their investments in various parts of the United States, contributing to changing the landscape of high-tech industries in the United States, and American companies’ investments in high-tech industries in Korea are also expanding.”

“These investments are important in themselves, but they will contribute as great synergies to the economic development of both countries in terms of providing cutting-edge technologies to our Korean industry,” he said.

Meanwhile, President Yoon added, “I hope that today’s event will be a meaningful time to deepen cooperation between Korean and American companies.”

The following is the full text of President Yoon’s remarks at the Korea-US Business Roundtable.

I am very happy and personally honored to meet you, major companies from both countries who are playing a pivotal role in Korea-US economic cooperation and are leading the global economy and industry.

This year is a historic year as it marks the 70th anniversary of the ROK-US alliance. The ROK-US alliance is a value alliance that shares the universal values ​​of liberal democracy and market economy.

From military security to supply chains and cutting-edge science and technology, the two countries are evolving into a comprehensive global strategic alliance. I hope that this state visit will serve as an opportunity to accelerate this.

I believe that Korea’s growth from the ruins of war to today’s vibrant economic power is also thanks to the ROK-US alliance.

In the 11 years since the Korea-US FTA, considered the most successful FTA in the history of the two countries, took effect, bilateral trade increased by 90%. American companies’ investments in Korea doubled, and Korean companies’ investments in the US tripled in about 10 years.

Based on this, we must prepare for the next 70 years by building a more solid future-oriented cooperative relationship. I believe mutual investment expansion and friend shoring in high-tech industries such as semiconductors, batteries, electric vehicles, and bio are more important than ever.

Recently, Korean companies are contributing to changing the US high-tech industry landscape by expanding investments in various parts of the United States.

Thanks to large-scale investments by Korean semiconductor companies, Texas has emerged as the core of the semiconductor supply chain, and thanks to investments by Korean car battery makers, Georgia and Michigan are transforming into hubs for electric vehicles.

In addition, US companies’ investment in high-tech industries in Korea is expanding. Leading semiconductor equipment companies in the US are establishing next-generation semiconductor equipment R&D centers in Korea.

At the investment declaration ceremony a little while ago, six US high-tech companies announced investments in Korea worth $1.9 billion in the semiconductor and hydrogen fields.

I believe that these investments, while significant in themselves, will contribute to great synergies in the economic development of both countries in terms of providing cutting-edge technologies to our Korean industries.

We also need bilateral cooperation to build a stable and resilient supply chain.

In particular, Korea and the United States can be said to be the best partner for establishing a stable supply chain as they share various values ​​and are economically closely connected. Because we can trust each other.

Cooperation between the two countries is important in cutting-edge fields such as space, artificial intelligence, quantum, and SMR. The United States is a key source technology powerhouse, and Korea has world-class advanced manufacturing capabilities. Therefore, cooperation between the two countries can create great synergies with each other.

As emerging technologies are developing rapidly, I believe that the two countries should demonstrate global leadership together through exchanges and cooperation in the field of cutting-edge science and technology, such as joint technology development, demonstration cooperation, people-to-people exchanges, and international standard cooperation.

We believe that it is precisely in line with world peace and prosperity and the interests of both Korea and the United States.

I hope that today’s event will be a meaningful time to deepen cooperation between Korean and American companies. I would like to realize the ROK-US alliance that moves forward into the future together with the business people of both countries. thank you