Korea-US Trade Experts: "In the Biden Era, Opportunities for Green Energy Investment Will Increase"

[Asia Economy Reporter Park So-yeon] Korea-US trade experts forecast that with the inauguration of the Biden administration in January next year, trade and investment opportunities for Korean companies will expand, especially in the green energy sector.

On the 10th, the Korea International Trade Association held an online meeting titled 'Post-Presidential Election Outlook on US Economic and Trade Policy' at the Trade Tower in Samseong-dong.

From the Korean side, 12 senior representatives from major companies and related organizations attended, including Korea International Trade Association Chairman Kim Young-joo, Samsung Electronics, POSCO, Hyundai Steel, SeAH Steel, the Korea Iron & Steel Association, and the Korea Semiconductor Industry Association.

On the US side, four experts participated, including Douglas Bell, Trade Policy Leader at global consulting firm Ernst & Young (former Deputy Assistant Secretary of the US Treasury), Stacy Ettinger, Partner Attorney at law firm K&L Gates (former Legal and Policy Advisor at the US Department of Commerce), and Jonathan Pollack, Senior Fellow at the Brookings Institution.

They discussed the economic, trade, and diplomatic policy directions of the new Biden administration and cooperation measures between the two countries.

In his opening remarks, Korea International Trade Association Chairman Kim Young-joo said, "Our companies need to pay close attention to how the Biden administration's economic and trade policies will differ from those of the Trump administration. In particular, it is necessary to closely explore cooperation measures between companies of both countries in the Green New Deal sector."

Attorney Stacy Ettinger predicted, "The Biden administration's trade policy will shift away from Trump's unilateralism to restoring relationships with trade partners and jointly building the international trade order."

She added, "The core of Biden's economic policy is 'rebuilding supply chains' and 'investment in the green energy industry,' which presents opportunities for Korean companies operating in the US to expand trade and investment."

Choi Yong-min, Director of the International Trade and Commerce Research Institute at the Korea International Trade Association, said, "We will provide timely reports and seminars so that our companies can strategically respond to changes in the trade environment under the Biden administration. As an institution representing the private sector, we will also actively communicate with government officials and related organizations of both countries."

This content was produced with the assistance of AI translation services.