Korean delegation stresses need for consistency in US policy for continued investment

Choi Joong-Kyung, Korea's ambassador for international investment cooperation, speaks during an interview with Hankook Ilbo, Seoul, Dec. 22, 2024. Korea Times photo by Choi Joo-yeon

A Korean business delegation to the United States has stressed the need for consistency in U.S. policies to create an environment for continued investment by Korean firms in the United States, Seoul's industry ministry said Friday.

Choi Joong-kyung, Korea's ambassador for international investment cooperation, made the call while meeting with Kentucky Gov. Andy Beshear, according to the Ministry of Trade, Industry and Energy.

Choi, according to the ministry, said the sustainability of a favorable environment for investment, including the Inflation Reduction Act (IRA), is important for Korean companies to continue their investment in the U.S.

Choi and other delegates, including officials from Seoul's three major battery makers, have been on a visit to the U.S. since Feb. 28 to meet with key officials from local governments of Tennessee, Kentucky, Ohio, Michigan, Indiana and Arizona. The states are where Korean battery companies have made massive investments.

Their ongoing trip comes amid concerns surrounding the Donald Trump administration's push to end tax credits for electric vehicles (EVs) under the IRA.

The delegation plans to wrap up its trip after attending a seminar on Korea-U.S. industrial cooperation in Washington next week. (Yonhap)