KCCI: "Significant Achievements in the Korea-US Economic and Technology Alliance"

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] The Korea Employers Federation (KEF) evaluated in a statement following the Korea-US summit on the 21st that expanding the Korea-US alliance to include economic and technological alliances is a meaningful achievement.

On the 21st, KEF stated, "The business community sincerely welcomes the decision by both Korea and the US to expand strategic cooperation not only in supply chain collaboration for semiconductors and batteries but also in advanced technology sectors amid the deepening global supply chain crisis and accelerating reorganization of the economic order."

In particular, through joining the Indo-Pacific Economic Framework (IPEF), the two countries have built a solid partnership and strengthened security cooperation for peace on the Korean Peninsula, expanding the Korea-US alliance beyond military security to economic and technological alliances, which is evaluated as a very meaningful achievement.

It added, "We hope this Korea-US summit will serve as an opportunity to further enhance the economic interests of both countries and advance the Korea-US alliance into a comprehensive strategic alliance," and "The business community will make every effort to ensure that the outcomes of this summit lead to tangible results such as overcoming the economic crisis by practicing various economic cooperation at the private sector level, including expanding trade and investment between the two countries."