US Deputy Treasury Secretary Meets with Chey Tae-won and Kim Dong-kwan... Also Holds Talks with Business Leaders from SK, Hyundai Motor, POSCO Future M, and Others

Deputy Minister Fernandes Introduces Visit Achievements on SNS
Meets SK Chairman Chey Tae-won and Hanwha Vice Chairman Kim Dong-kwan

Jose Fernandez, U.S. Department of State Deputy Assistant Secretary for Economic Growth, Energy, and the Environment, was confirmed on the 2nd to have met with SK Group Chairman Chey Tae-won, Hanwha Group Vice Chairman Kim Dong-kwan, and others during his recent visit to Korea. He also met with key domestic business leaders from SK, Hyundai Motor Company, POSCO Future M, and discussed ways to enhance cooperation.

Deputy Assistant Secretary Fernandez wrote on his social media platform X (formerly Twitter) the day before, "This visit to Seoul was productive." He visited Korea to attend the U.S.-Korea economic partnership regular channel, the Senior Economic Dialogue (SED), held in Seoul on the 31st of last month, and departed the day before.

On X, Fernandez stated, "I was able to meet with executives from Hyundai Motor, Samsung, Hanwha Q CELLS, SK, and POSCO Future M to discuss ways to create tangible benefits for both the U.S. and Korea and to develop strong investment relationships."

He posted a photo shaking hands with Kim Jun-hyung, President of POSCO Future M. He added, "Today in Seoul, I met with President Kim Jun-hyung to discuss cooperation in the electric vehicle battery and critical minerals supply chains, and partnerships to build a clean future."

President Kim reportedly said during the meeting, "To reduce the group's dependence on China in the secondary battery material supply chain, we are promoting raw material development at the group level for lithium, nickel, graphite, and mass production of artificial graphite anodes," and "We look forward to expanding close cooperation with the U.S. government and industry so that these efforts can bear fruit."

Jose Fernandez, U.S. Deputy Secretary of State for Economic Affairs (left), shaking hands with Kang In-sun, Second Vice Minister of Foreign Affairs, at the 8th Korea-U.S. High-Level Economic Dialogue (SED) held at the Ministry of Foreign Affairs in Jongno-gu, Seoul, on the afternoon of the 31st of last month.
[Photo by Yonhap News]

Deputy Assistant Secretary Fernandez also separately introduced his meeting with SK Group Chairman Chey Tae-won.

He stated, "SK's investments in electric vehicle battery production in Georgia, Kentucky, and Tennessee are creating jobs in both the U.S. and Korea and contributing to the U.S.'s transition to clean energy," and "As I told Chairman Chey Tae-won today, I look forward to more cooperation in this field."

In another post, he wrote, "I appreciate Hyundai Motor Group for continuing its partnership and investment in the U.S. electric vehicle battery market."

He also introduced, "It was good to discuss supply chain resilience with Hyundai Motor President Carl Kim and Vice President Kim Il-beom," adding, "Hyundai Motor and Kia have become the second-largest electric vehicle suppliers in the U.S. market."

'Carl Kim' is the English name of Kim Geol, President of Hyundai Motor Group (Chief of Planning and Coordination Office).

Hyundai Motor and Kia, the main companies of Hyundai Motor Group, sold a total of 94,340 electric vehicles in the U.S. last year, ranking second in sales after Tesla. Compared to the previous year, sales surged by 62.6%, moving up one rank.

Deputy Assistant Secretary Fernandez also posted a photo with Hanwha Group Vice Chairman Kim Dong-kwan. He said, "We welcome Hanwha Q CELLS' investment in U.S. solar manufacturing and the ongoing partnership to improve supply chain resilience."