Yoon Secures $1.9 Billion Investment from 6 US Advanced Tech Firms... $4.4 Billion Sales in Two Days

Investment Reporting Ceremony Followed by Business Roundtable and Advanced Industry Forum Attendance
Yoon Expresses Gratitude, Saying "Korea-US to Build Future-Oriented Cooperative Relationship"

On the second day of his state visit to the United States on the 25th (local time), President Yoon Suk-yeol secured investments totaling $1.9 billion (approximately 2.5 trillion KRW) from six leading U.S. advanced technology companies. Following the $2.5 billion investment secured from Netflix the previous day, this brings the total investment attracted over two days to $4.4 billion.

President Yoon attended an investment declaration ceremony in Washington D.C. with the Korean economic delegation and key American business leaders. The six companies participating in the ceremony represent leading firms in hydrogen, semiconductors, and eco-friendly industries: Air Products, Plug Power, ON Semiconductor, Green Tweed, PureCycle Technologies, and EMP Velster.

President Yoon personally expressed his gratitude to the CEOs of these six companies for their large-scale investment decisions and conveyed the Korean government's commitment to supporting advanced industry investments. These six companies plan to build production facilities related to advanced industries such as clean hydrogen, semiconductors, and carbon neutrality in Korea. A presidential office official added, "This will not only strengthen the supply chain and advanced technology cooperation between Korea and the U.S. but also play a significant role in the eco-friendly transition of energy and industrial structures."

President Yoon also mentioned each company individually, expressing expectations for further cooperation. He stated, "Investments by ON Semiconductor and Green Tweed in the semiconductor sector are central to economic security and will contribute to strengthening the semiconductor industry's supply chain and advanced technology cooperation. Investments by Air Products and Plug Power in clean hydrogen, as well as by PureCycle Technologies and EMP Velster in eco-friendly sectors, will play a major role in the eco-friendly transition of energy and industrial structures."

President Yoon Suk-yeol, who is on a state visit to the United States, is delivering a keynote speech at the investment declaration ceremony held on the 25th (local time) at the Lee Anderson Room of the U.S. Chamber of Commerce in Washington DC.
[Photo by Yonhap News]

President Yoon then participated in the Korea-U.S. Business Roundtable, engaging in in-depth discussions with key business leaders from both countries to strengthen the advanced technology alliance. This roundtable was organized to discuss cooperation plans among major Korean and U.S. companies in future advanced industries such as semiconductors, electric vehicles, batteries, artificial intelligence (AI), and biotechnology.

U.S. participating companies included representatives from various sectors: Qualcomm, Lam Research, ON Semiconductor, Corning, IBM, Microsoft, and Google in semiconductors, IT, and AI; GE, TerraPower, GM, and Tesla in clean energy and electric vehicles; Boeing and Lockheed Martin in defense and aerospace; and Moderna and Biogen CEOs in biotechnology.

At the Davos Global CEO luncheon, notable attendees who met with President Yoon included Cristiano Amon, CEO of Qualcomm; Gary Cohn, IBM Vice Chairman and former NEC Chairman under the Trump administration and a strong advocate of the Korea-U.S. FTA; Kan Budhiraja, Tesla’s Senior Vice President of Supply Chain, who pledged to purchase $10 billion worth of parts from Korean companies this year; and Noubar Afeyan, Moderna’s Board Chairman and founder, known for playing a significant role in supporting Korea with vaccines during the COVID-19 pandemic. On the Korean side, representatives from major groups closely cooperating with these companies, such as Samsung Electronics, SK, Hyundai Motor, LG, Lotte, Hanwha, Hanjin, Hyosung, Poongsan, and Korea Aerospace Industries, attended.

At the Korea-U.S. Advanced Industry Forum, President Yoon once again called for cooperation between Korean and American business leaders. This forum was held to mark the 70th anniversary of the Korea-U.S. alliance, presenting a new vision for industrial cooperation between companies of both countries and strengthening partnerships in various fields such as investment, workforce, and technology. In his congratulatory speech, President Yoon evaluated, "The Korea-U.S. alliance is a model alliance that has created mutually beneficial outcomes beyond security to the entire economy," adding, "This is thanks to the business communities of both countries who share a firm belief in the values of freedom and solidarity."

He further stated, "Marking the 70th anniversary this year, the Korea-U.S. alliance has evolved into a value alliance sharing universal values of liberal democracy and market economy, developing into a 'global comprehensive strategic alliance' spanning military and security to supply chains and advanced science and technology sectors," and expressed hope that "we will build an even stronger future-oriented cooperative relationship to prepare for the next 70 years."

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