[Reporter’s Notebook] U.S. Assigns Dedicated Officers for $1 Billion Investments

Chairman Chey Tae-won showed a visibly tense expression. On the 19th, the Korea Chamber of Commerce and Industry (KCCI) chairman group, including Chairman Chey, was waiting to board a flight to the United States. To prepare for the second term of the Trump administration's industrial and trade policies, they needed to meet key government officials, but it was still unclear who they would be able to meet before boarding.

Howard Lutnick had not yet been officially appointed as the U.S. Secretary of Commerce, and there was significant concern about what kind of discussions could take place locally. The KCCI staff devised detailed strategies to ensure that if Secretary Lutnick was officially appointed during his visit to the U.S., they could immediately proceed with meetings, contemplating effective countermeasures. However, concerns about uncertain variables persisted throughout the flight.

Immediately after arriving in the U.S., the KCCI staff activated official consultation channels with the Trump administration, but the second Trump administration was also in turmoil. President Trump repeatedly announced policies first, leaving the staff to clean up afterward, and each department was busy reviewing laws and organizing policy directions.

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Secretary Lutnick was officially appointed as Secretary during the chairman group's visit to the U.S. He also met with Korean businesspeople. Although it was reported that he treated Korean companies coldly or only demanded investments above a certain scale, according to businesspeople on site, the Secretary appeared more proactive in attracting businesses.

Just before the inauguration ceremony, he took time to meet with the KCCI chairman group and promised that for investments above a certain scale, a dedicated officer would be assigned through the ‘Investment Accelerator’ program to provide swift administrative support and incentives. He expressed a strong will to minimize inconveniences for companies to attract investment within the U.S.

One attendee conveyed the atmosphere, saying, "The U.S. did not show a coercive attitude toward Korean companies; rather, it showed a strong willingness to cooperate on investment." The message was clear that Korean companies would receive various benefits if they invested in the U.S. It was a strategy that simultaneously used the ‘carrot’ of incentives and the ‘stick’ of tariffs.

What kind of moves is the Korean government making? While the U.S. is encouraging domestic investment, our government has yet to present practical countermeasures to retain companies. Meanwhile, the Korean National Assembly passed a bill in the standing committee subcommittee that could increase the likelihood of mass lawsuits by companies. Although tax benefits and regulatory easing are being discussed, companies have already turned their eyes to the global market.

It is a natural strategy for the U.S. to focus on attracting domestic investment. Korean companies also need to seek practical cooperation measures rather than simply being wary. However, from the government’s standpoint, neglecting the outflow of companies overseas and discussing countermeasures belatedly is irresponsible. It is useless to regret later in a Korea where the industrial base is shaken and empty.

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