S. Korea industry minister urges U.S. firms to expand investment

1 of 2 | South Korean Trade, Industry and Energy Minister Kim Jeong-kwan speaks during a meeting with the American Chamber of Commerce in Korea and U.S.-affiliated companies investing in South Korea at the Seoul Government Complex on Thursday. Photo by Asia Today
Jan. 9 (Asia Today) — South Korea’s industry minister Kim Jeong-kwan on Thursday urged U.S.-affiliated foreign-invested companies to continue expanding investment in South Korea, saying the government will work to reflect concerns raised by member companies of the American Chamber of Commerce in Korea in its policies.
Kim, the minister of Trade, Industry and Energy, made the remarks during a meeting with representatives of chamber member companies and U.S.-affiliated firms investing in South Korea at the Seoul Government Complex, the ministry said.
The meeting was held at the chamber’s request to review the domestic investment environment, discuss challenges faced by U.S.-affiliated firms and consider government support measures, the ministry said.
The session was the first formal communication event since the signing of what the ministry described as a South Korea-U.S. strategic investment memorandum of understanding in November and the proposal of a bill it called a special act on strategic investment management.
Kim thanked U.S. companies for what the ministry described as record-high investment in South Korea last year. The ministry cited figures showing U.S. investment fell from $8.7 billion in 2022 to $6.1 billion in 2023 and $5.2 billion in 2024, before rising 86.6% year-on-year to $9.77 billion in 2025.
Kim said the jump in U.S. investment came as South Korean corporate investment in the United States has been expanding following the conclusion of South Korea-U.S. tariff negotiations, calling it a symbolic outcome that reflects mutually beneficial investment cooperation.
“I consider all companies operating in Korea to be Korean companies, and especially value those investing in Korea,” Kim said, according to the ministry. He said the chamber and companies present were valuable partners.
Kim said he hopes to see continued investment in areas such as AI data centers, semiconductors and bio, adding that he wants this year to be one in which bilateral economic cooperation moves forward more dynamically.
AMCHAM Chairman James Kim said this year marks the 250th anniversary of the founding of the United States and the 144th anniversary of South Korea-U.S. diplomatic relations, calling it a meaningful year, according to the ministry.
He said rapid advances in AI and shifts in the geopolitical environment have heightened the importance of the bilateral partnership for economic security and sustainable growth.
He also referenced CES 2026 in Las Vegas, saying South Korea ranked third globally in the scale of national participation and that South Korean companies won about 60% of this year’s CES Innovation Awards, with many of the winners being small and medium-sized enterprises, the ministry said.
Companies at the meeting shared views on item-specific tariff talks and on the operation of foreign investment incentive systems, the ministry said, adding it will review suggestions raised and continue communication with major foreign-invested companies.
— Reported by Asia Today; translated by UPI
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