Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.
KITA holds trade roundtable with Tennessee governor to deepen trade, investment ties
Korea International Trade Association (KITA) Chairman Yoon Jin-sik, right, shakes hands with Tennessee Gov. Bill Lee during a trade roundtable in Seoul, Thursday.
By Lee Gyu-lee
Governor also meets with business leaders
The Korea International Trade Association (KITA) held a trade roundtable with Tennessee Gov. Bill Lee in Seoul Thursday, to discuss ways to expand trade and investment cooperation.
Joining the governor were Stuart McWhorter, deputy governor and commissioner of the Tennessee Department of Economic and Community Development, and Allen Borden, deputy commissioner.
On the Korean side, participants included KITA Chairman Yoon Jin-sik, Meta Biomed Chairman Oh Suk-song, Hyundai Motor Group Executive Vice President Kim Dong-wook and YG-1 Chairman Song Ho-keun. Representatives from Korean companies already operating in or considering expansion into Tennessee also attended to exchange views directly with state officials on future industrial cooperation, workforce development and local operational support.
Tennessee is recognized as one of the leading manufacturing hubs in the United States, home to major Korean investors such as LG Electronics, Hyosung Heavy Industries and Hankook Tire.
“South Korea continues to be a key economic partner for the State of Tennessee, particularly in advanced manufacturing sectors such as battery materials, cell production and automobile manufacturing,” the governor said during the event.
“Given the significant contributions that South Korean businesses have made to Tennessee’s economic growth, job creation and culture, we look forward to deepening these partnerships and are committed to providing the strong workforce, energy supply and regulatory environment to help existing and prospective companies thrive.”
The state boasts a highly developed automotive ecosystem centered around global automakers, including Nissan, General Motors and Volkswagen. Korean battery maker SK On is building an electric vehicle (EV) battery plant jointly with American auto giant Ford Motor, while LG Energy Solution (LGES) operates another EV battery plant jointly with General Motors. LG Chem’s new cathode materials plant is also currently under construction.
These projects are driving growing participation from small- and mid-sized Korean suppliers across Tennessee. According to the Tennessee state government, Korean firms have invested approximately $5.9 billion as of 2024, creating over 4,200 jobs across the state.
“We hope cooperation between Tennessee, a leading hub for global automakers and North America’s EV transition, and our enterprises will further strengthen supply chain collaboration in the high-tech sectors of both Korea and the U.S,” the KITA chairman said.
“We also ask for the state government’s special attention and support to help address visa-related challenges faced by our technical professionals.”
Also on Thursday, Lee met with SK On CEO Lee Seok-hee to discuss the operation of BlueOval SK — the company’s joint venture with Ford — and ways to strengthen cooperation with the local community.
Tennessee has been supporting the training of new BlueOval SK employees through a battery manufacturing process training center completed last year.
The governor also met with LG Chem CEO Shin Hak-cheol and LGES CEO Kim Dong-myung.