Yeo Hangoo Urges US Companies to Expand Investment in Korea's High-Tech Industries

Yeo Hangoo Urges American Companies to Expand Investment in Korea
Addresses AMCHAM at Closed-Door Meeting After Korea-US Tariff Agreement

Yeo Hangoo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, has called for increased investment in Korea by American companies.

During his opening remarks at a closed-door meeting held on the 8th at the American Chamber of Commerce in Korea (AMCHAM) office in Yeouido, Seoul, Yeo stated, "With much of the external trade environment uncertainty resolved following the conclusion of tariff negotiations, I hope that American companies will actively expand their investments in Korean industries such as AI and data centers."

Yeohangu, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is speaking at a closed-door meeting held on the 8th at the American Chamber of Commerce in Korea (AMCHAM) office in Yeouido, Seoul. Photo by AMCHAM

His remarks came after recent Korea-US tariff negotiations resulted in agreements on key issues, including mutual tariffs. The two countries coordinated on the issue of imposing mutual tariffs on certain items, which alleviated export uncertainties for Korean companies selling to the United States and laid the groundwork for a more predictable business environment for American companies as well.

Yeo also announced, "We will operate a 'US Help Desk' to actively listen to and address the complaints and difficulties faced by American companies," adding that the government will support a better investment environment for the various American firms operating in Korea.

He further assessed, "The conclusion of the Korea-US tariff negotiations has resolved short-term export uncertainties for our companies and secured economic conditions that are not disadvantageous compared to other major countries." He went on to say, "We will strengthen the 'manufacturing renaissance' partnership between Korea and the United States in strategic industries such as shipbuilding, automobiles, semiconductors, bio, batteries, and nuclear power."

The meeting was convened to discuss current trade issues, including the results of the Korea-US tariff negotiations. Senior executives from leading Korean and American global companies in sectors such as manufacturing, aerospace and defense, healthcare, automotive, and artificial intelligence (AI) attended the closed-door session.

Yeo Hangoo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, and James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM), are taking a commemorative photo at a private meeting held on the 8th at the AMCHAM office in Yeouido, Seoul. AMCHAM

James Kim, Chairman and CEO of AMCHAM, welcomed and expressed support for the recently concluded Korea-US tariff agreement, stating, "It has greatly enhanced the predictability and stability of the business environment between the two countries."

He added, "I am confident that by building on the momentum of this agreement, we can address the remaining challenges, create new opportunities, and further strengthen the Korea-US economic partnership." He also stated, "We will continue to work closely with the Korean government to develop practical solutions to key issues, including non-tariff barriers and sector-specific tariff matters."