Contracts and MOUs aimed at strengthening partnerships between South Korea and the United States in sectors such as shipbuilding, nuclear energy, and aviation have been signed during President Lee Jae-myung’s visit to the U.S.
The Ministry of Trade, Industry, and Energy announced today (25th) that during the ‘Korea-U.S. Business Round Table’ held in Washington D.C., a total of 11 contracts and MOUs were signed between companies from both countries.
The event was attended by 16 Korean business leaders, including Samsung Electronics Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Chairman Koo Kwang-mo. From the U.S., 21 leaders participated, including Jensen Huang, CEO of NVIDIA, and David Rubenstein, Co-Founder of Carlyle Group.
In terms of sectors, six MOUs were signed to expand cooperation in strategic industries like shipbuilding and nuclear energy, encompassing joint fund creation, investment, and technology cooperation.
Notably, four purchase contracts and MOUs were concluded in the aviation and LNG sectors, and a Memorandum of Understanding was signed to export rare earth metals from Korea to the United States, enhancing the supply chain cooperation.
Minister of Trade, Industry, and Energy Kim Jeong-gwan promised to provide all necessary institutional support to usher in a renaissance in Korea-U.S. manufacturing cooperation.
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