"Thank You" Biden Applauds Korean Entrepreneurs for Their Investments (Update)

Sudden Call During Press Conference on Large-Scale Investment at Korea-US Summit
Samsung, Hyundai, SK, LG Officials Stand and Receive Applause

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden praised Korean business leaders who decided on large-scale investments in the United States.

Executives from Samsung, Hyundai, SK, and LG are standing up during the South Korea-US summit press conference, receiving applause from the attendees.

On the 21st (local time), during a joint press conference following the South Korea-U.S. summit with President Moon Jae-in, President Biden said, "I thank the Korean companies that have pledged investments worth $25 billion in the United States," and requested, "Samsung, Hyundai, SK, and LG executives, please stand up."

When SK Chairman Chey Tae-won and other Korean businesspeople stood up, the attendees applauded in unison.

President Biden also expressed his gratitude by saying, "Thank you, thank you, thank you," while clapping along.

Domestic companies such as Samsung Electronics and SK Hynix announced plans to invest over 40 trillion won in the U.S. following the South Korea-U.S. summit.

Samsung Electronics decided to invest a total of $17 billion to build a new foundry plant, while LG Energy Solution and SK Innovation plan to pursue local joint ventures or sole investments worth approximately $14 billion.

Hyundai Motor Company revealed plans to invest a total of $7.4 billion in electric vehicle production and charging infrastructure expansion within the U.S. SK Hynix will invest $1 billion to establish a large-scale research and development (R&D) center in Silicon Valley focused on innovation in new growth areas such as artificial intelligence (AI) and NAND solutions.

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