Korean, US biz leaders call for support to accelerate Korean investment projects in US

Korean and U.S. business leaders have urged for accelerated regulatory approvals, tax and financial support, and visa reforms to facilitate the successful execution of major Korean investment projects in the United States. This call for action was made in a joint declaration at a plenary meeting of the U.S.-Korea and Korea-U.S. Business Council, which was attended by approximately 60 political and business leaders and experts from both countries.

Earlier this month, President Donald Trump unveiled details of Seoul's planned $200 billion investment in the U.S., as part of a broader $350 billion commitment agreed upon by the two nations last year, in exchange for lower U.S. tariffs on Korean goods. The business circles highlighted the need for measures to reduce trade uncertainty and reform regulations, urging the two governments to introduce fast-track approval procedures and offer tax and financial incentives for companies participating in strategic investment projects.

Additionally, they emphasized the need for improvements to visa systems and the establishment of supportive frameworks to enable the successful implementation of these investments.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.