South Korea's Investment Surge in U.S. Shores: Expansive Plans Unveiled at Historic Summit
South Korea announced a massive U.S. investment strategy at a summit with President Trump, highlighting commitments in multiple sectors like aerospace and nuclear energy. The $150 billion pledge comes alongside a non-binding agreement involving $350 billion to support crucial industries as part of a trade deal to avoid U.S. tariffs.
In a landmark summit between U.S. President Donald Trump and South Korean President Lee Jae Myung, South Korea announced an expansive plan for U.S. investments valued at $150 billion. The initiative is part of a broader strategy to foster economic collaboration, featuring South Korea's major industries like shipbuilding, nuclear energy, and aerospace.
Key investments include Korean Air's purchase of 103 Boeing aircraft worth $36.2 billion and Hyundai Motor Group's increased U.S. investment from $21 billion to $26 billion by 2028. Additionally, South Korea's shipbuilding industry aims to revitalize U.S. capabilities through a collaboration with global investors.
Complementing this financial surge, South Korea and the U.S. preliminarily agreed on a $350 billion non-binding fund targeting critical sectors, including AI and quantum computing. This agreement marks a significant shift in trade relations, aiming to reduce tariffs on Korean imports while reinforcing strategic industries.
(With inputs from agencies.)
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