According to Yonhap News,

South Korea's top envoy for international investment cooperation has called for the enhancement of bilateral industrial cooperation with the United States in advanced industries during his ongoing visit to Washington, Seoul's industry ministry said Tuesday.

Choi Joong-kyung, ambassador for international investment cooperation, made the call during a seminar on industrial cooperation between South Korea and the U.S. with the Heritage Foundation, a major think tank based in Washington, according to the Ministry of Trade, Industry and Energy.

Choi has been on a trip to the U.S. since Feb. 28 to seek ways to bolster bilateral cooperation in various industries amid rising concerns over the Donald Trump administration's push for a new tariff scheme.

In the seminar, Choi called for advancing bilateral cooperation in six major sectors -- shipbuilding, defense, artificial intelligence (AI), nuclear power plants, energy and batteries.

The two countries will be able to strengthen their competitiveness in the global market if they can integrate the U.S.' cutting-edge technologies and South Korea's manufacturing infrastructure, Choi said, according to the ministry.

He also stressed the need for consistency in U.S. policies, such as the CHIPS Act and the Inflation Reduction Act, to create an environment for continued investment by South Korean firms in the U.S.

The ministry said Choi plans to visit five other major U.S. think tanks and institutions, including the U.S. Chamber of Commerce and Peterson Institute for International Economics, this week as part of efforts to bolster bilateral industrial cooperation.



nyway@yna.co.kr

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Source: Yonhap News (March 11, 2024)