Korean companies make 44 trillion won ‘big investment’ in strengthening US supply chain
President Biden: “Thank you so much” following calling a businessman
Biden’s visit to Korea ‘Finding customized gifts’ Business world ‘worries’ once more and once more
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[앵커]
As economic security rises to the top of the agenda at the Korea-US summit, the business world is struggling to come up with a gift package.
Businesses are responding to the economic and technological alliance by accelerating existing investment commitments while cooperating with the US-led anti-China economic alliance, the IPEF.
Reporter Kim Sang-woo on the sidewalk.
[기자]
At this time a year ago, the press conference room for the Korea-US summit.
U.S. President Joe Biden raised Korean entrepreneurs and expressed his warm gratitude.
This is because it has joined the strategy of strengthening the supply chain of high-tech industries in the United States with a new investment of 44 trillion won in the United States to contain China.
[조 바이든 / 미국 대통령(지난해 5월 22일) : 삼성과 현대, SK와 LG 등에서 오늘 250억 달러 이상 등의 신규 투자를 약속했는데 회사 대표들 일어나보시겠습니까? (박수) 감사, 감사, 또 감사드립니다. 우린 함께 훌륭한 일을 해낼 수 있을 것입니다.]
Ahead of Biden’s visit to Korea, the business world is busy preparing gifts to keep pace with the new government’s cooperation with the US.
First, it is known that the plan is to accelerate the implementation of the existing investment promises and actively cooperate with the US-led anti-China economic cooperation IPEF.
As Biden chose the Samsung semiconductor plant in Pyeongtaek as the first schedule for his visit to Korea, Samsung Electronics is expected to materialize the plan to start construction of a 20 trillion won foundry plant in Texas, USA.
Hyundai Motor is talking regarding new investments in the US, but the company is drawing a line.
Hyundai Motor Company and Kia Motors announced that they would invest 21 trillion won in the domestic electric vehicle sector by 2030, while the Associated Press reported that they were discussing with local authorities to build a $7 billion electric car factory in Georgia, which will create 8,500 jobs. I did.
It is interpreted that he was conscious of the opinions of the labor union that he was prioritizing overseas investment and ignoring the development of domestic electric vehicles.
[공영운 / 현대차 그룹 사장 : 올바른 방향에 부합할 수 있도록 열심히 노력하겠습니다.]
Following semiconductors and electric vehicles, LG Energy Solutions, a key battery company that is of interest to the United States, is hastening to mass-produce batteries in the United States.
Following the announcement of construction of a new plant by investing 1.7 trillion won in Arizona in the US in March, the Ohio joint plant with GM will be operated in the second half of the year, and the second plant in Tennessee will be operated next year and the third plant in Michigan by 2025. goal.
Lotte, whose main business is distribution, has also started investing in the US.
Following the recent acquisition of a US pharmaceutical company’s biopharmaceutical plant in Syracuse, US, additional investment is planned.
Hanwha Solutions, which operates a solar module plant in Georgia, USA, is pursuing an expansion in the US in response to China’s low-cost offensive by keeping pace with the US anti-Chinese front.
About 80 people, including heads of major groups and heads of economic groups, were invited to the dinner for the Korea-US summit, and it is known that the two countries will strengthen cooperation in economic and technological alliances.
Biden is an investment evangelist in the United States that is second to former President Trump, who advocated ‘America First’.
Our investment in the United States doubled from $18.3 billion in 2020 to $37.1 billion last year when Biden took office.
This is YTN Kim Sang-woo.
YTN Kim Sang-woo (kimsang@ytn.co.kr)
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