0
Minister of Trade, Industry and Energy Kim Jung-kwan answers questions from reporters at Incheon International Airport Terminal 2 after returning from his U.S. trip on the 20th. / Yonhap

Minister of Trade, Industry and Energy Kim Jung-kwan is visiting the U.S. to discuss international coordination in artificial intelligence (AI) and expand bilateral two-way investment between South Korea and the U.S. While seeking to attract investment from U.S. enterprises into South Korea, he will also attend the groundbreaking ceremony for the Hyundai-POSCO Louisiana Steel (HPLS) mill to strengthen supply chain cooperation between the two nations.

According to the Ministry of Trade, Industry and Energy on the 1st, Minister Kim will sequentially visit North Carolina, Washington, D.C., and Louisiana in the U.S. from this day through the 4th (local time).

On the 2nd, Minister Kim will attend the Group of 20 (G20) Innovation Ministers Meeting in Chapel Hill, North Carolina. At the meeting, participants plan to discuss inter-country cooperation measures centered on AI intellectual property rights, international standards, and supply chains.

On the 3rd, he will host an investment declaration ceremony and roundtable in Washington, D.C., alongside the Korea Trade-Investment Promotion Agency. The event aims to attract investment in South Korea from U.S. companies in semiconductors, advanced materials, and offshore wind power, as well as listen to grievances and policy recommendations from enterprises that have already invested in South Korea.

On the 4th, the final day of his U.S. visit, he will attend the HPLS groundbreaking ceremony held in Donaldsonville, Louisiana. This project is part of a total $26 billion investment plan in the U.S. that Hyundai Motor Group expanded after initially announcing it at the White House last year. Hyundai Steel's investment stands at $5.8 billion, and the ministry anticipates that once completed, the steel mill will contribute to building a stable steel supply chain across North America.

Prior to the groundbreaking ceremony, Minister Kim will also meet with Louisiana Governor Jeff Landry to discuss expanding strategic cooperation between the two nations across sectors including energy.

Minister Kim stated, "This will serve as an opportunity to reaffirm our companies' commitment to supply chain cooperation through investment in the U.S., while also attracting investment from U.S. companies into South Korea to strengthen bilateral two-way investment cooperation."

                                                                                                              Han Dae-ui