Martial Arts, Dispatch 'Daemi Industry Delegation'... Discussing Supply Chain Cooperation in Semiconductors and Batteries

Outreach Activities in Washington D.C. from the 24th to 26th
Discussion on Expanding Supply Chain Cooperation in Semiconductors, Batteries, and Steel

On the 26th (local time) in Washington D.C., key members of the Trade Association's major industry outreach delegation to the United States took a commemorative photo with Sarah Bianchi, Deputy United States Trade Representative (USTR). (From left) Jeong Sun-nam, Vice President of the Korea Battery Industry Association; Sarah Bianchi, Deputy USTR; Lee Gwan-seop, Vice President of the Korea International Trade Association; Lee Chang-han, Vice President of the Korea Semiconductor Industry Association; Byun Young-man, Vice President of the Korea Iron and Steel Association.

[Asia Economy Reporter Sunmi Park] The Korea International Trade Association (KITA) concluded a three-day schedule on the 26th (local time) for the 'Major U.S. Industry Outreach Delegation' dispatched to Washington D.C. to strengthen trade cooperation with the United States.

The delegation, led by KITA Vice Chairman Gwanseop Lee, included seven companies and organizations from key industries such as semiconductors, batteries, steel, textiles, as well as POSCO and Hyundai Steel.

During the visit, the delegation met with key figures from the administration, Congress, and the business community, including Sarah Bianchi, Deputy U.S. Trade Representative (USTR), Senator Todd Young, Congressman Jimmy Gomez, and John Murphy, Vice Chairman of the Chamber of Commerce, to discuss ways to expand supply chain cooperation in industries such as semiconductors, batteries, and steel.

In a meeting with Deputy USTR Sarah Bianchi, Vice Chairman Lee stated, "Since the implementation of the Korea-U.S. Free Trade Agreement (FTA), trade between the two countries has increased by nearly 70% compared to before its enactment, and the U.S. has become the largest overseas investment destination for our companies." He added, "With the expansion of trade and investment, supply chain cooperation centered on core industries such as semiconductors and batteries is also strengthening, and the mutual strategic value of both countries will continue to rise."

Regarding the Indo-Pacific Economic Framework (IPEF), he said, "Our association submitted an official opinion letter to the Department of Commerce and USTR on April 11, collecting feedback from companies and industry groups involved in U.S. investment and exports as part of the U.S. government's IPEF stakeholder consultation process." He expressed hope that "through IPEF, we can establish standards and cooperation frameworks for new trade agendas," emphasizing Korea as a trusted core partner in supply chains.

On the same day, the delegation discussed major trade issues and ways to expand bilateral cooperation with key federal lawmakers, including Republican Senator Todd Young and Democratic Congressman Jimmy Gomez. They also met with experts from the Brookings Institution, a think tank that significantly influences U.S. domestic and foreign policy, exchanging views on the development of Korea-U.S. relations, details of IPEF, and semiconductor supply chains.

Kim Hyuncheol, Director of KITA's Global Cooperation Headquarters, said, "This delegation marks the first outreach activity resumed since the dispatch of the economic cooperation delegation to the U.S. in 2019." He added, "In June, we plan to dispatch a large-scale economic cooperation delegation to the U.S. led by KITA Chairman Jayeol Koo, engaging in networking activities with key figures from Congress, the administration, and the business community to expand supply chain cooperation in major industries."

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