Korea-U.S. Collaboration Expected to Accelerate
The Blue House and the Ministry of Trade, Industry and Energy are drawing up a list of entrepreneurs to visit the United States in relation to the May 21 KORUS summit.
SK Group chairman Chey Tae-won is expected to discuss investment in the electric vehicle (EV) battery industry and cooperation in the biotech sector in the United States. SK Innovation is currently building a large secondary battery plant in Georgia and considering building more. SK Bioscience CEO Ahn Jae-yong is expected to accompany him with regard to contract manufacturing of COVID-19 vaccines.
LG Energy Solution CEO Kim Jong-hyun and Samsung Electronics vice chairman Kim Ki-nam or president Choi Si-young are expected to join them. LG Energy Solution is planning to build an additional EV battery plant in the United States. Samsung Electronics is preparing to build a foundry in the United States. The Samsung Electronics executive is also supposed to attend the semiconductor supply chain conference the Department of Commerce will convene on May 20.
“The list includes a lot of companies expected to make investments in the United States, in the EV battery and semiconductor sectors in particular,” said a source in the business community, adding, “The two countries’ collaboration in the sectors is expected to accelerate through the summit.”