President Lee: “Korea-U.S. investment should flow both ways ... the defense industry has enormous potential”

[Financial News] President Lee Jae Myung met with Evan Greenberg, chairman of the U.S.-Korea Business Council, at Cheong Wa Dae on the 15th and stressed that Korea-U.S. investment must be active in both directions to ensure sustainability.
Kang Yoo-jung, Cheong Wa Dae’s senior presidential spokesperson, conveyed this in a written briefing that day. Kevin McCarthy, former Speaker of the U.S. House of Representatives, who was to deliver a special address at the joint plenary of the Korea-U.S. and U.S.-Korea Business Councils, was also present.
The U.S.-Korea Business Council is a high-level economic forum jointly organized by the Korea-U.S. Business Council (KUSBC), under the Federation of Korean Industries (FKI), and the U.S.-Korea Business Council (USKBC), under the U.S. Chamber of Commerce. The forum is held alternately in Seoul and Washington, D.C.
President Lee noted that Evan Greenberg’s father, Chairman Morris Greenberg, was a Korean War veteran and served as chairman of the council, contributing to the development of Korea-U.S. relations. He expressed his gratitude for the deep ties the father and son have maintained with Korea across generations.
He said that the two countries are building on their strong security alliance to develop a future-oriented, comprehensive strategic alliance spanning the economy and advanced technology. He also said that, just as the United States has contributed to South Korea’s economic development, he hoped South Korea could also play a role in the development of U.S. industry.
Chairman Greenberg replied that North America and Northeast Asia—and the United States and South Korea in particular—are driving global growth, and that the strategic investment agreement between South Korea and the United States would further strengthen relations between the two countries.
President Lee stressed that investment must be active in both directions for sustainable cooperation. He also urged Chairman Greenberg and the U.S.-Korea Business Council to actively explore new investment and business opportunities in South Korea so that investment by U.S. companies there could grow alongside investment in the United States by Korean companies. He emphasized in particular that the defense industry has enormous potential for future cooperation between the two countries.
He also expressed hope for mutually complementary cooperation between the two countries, taking into account that South Korea is a small country that has grown in a short time and focuses its investment on human resources and technology.
He also urged the U.S.-Korea Business Council to actively promote the importance of Korea-U.S. economic cooperation to the U.S. government, Congress and business community, and to serve as a strong bridge supporting Korea-U.S. relations.
[email protected] Seong Seok-woo Reporter