First Visit to the U.S. as Minister, Andukgeun, Minister of Industry: "Korea-U.S.-Japan Industry Ministers' Meeting to Be Held in the First Half of the Year"

Minister Andeokgeun Visits Washington D.C. from 10th to 12th
Meets with Commerce and Energy Ministers
Discusses Expanding Cooperation in Advanced Industries and Clean Energy, Supporting U.S. Investment Companies

The first Korea-US-Japan Industrial Ministers' Meeting will be held in the first half of this year. The Ministry of Trade, Industry and Energy announced on the 13th that Minister An Deok-geun visited Washington D.C., USA from the 10th to the 12th to discuss cooperation plans in advanced industries and clean energy with Commerce Secretary Gina Raimondo and Energy Secretary Jennifer Granholm, and met with key congressional members from major investment regions of Korean companies, as well as members of the House Ways and Means Committee responsible for trade and commerce, urging support for smooth investment by Korean companies.

This visit to the US was Minister An's first trip since taking office, and aimed to develop the momentum of strengthened bilateral cooperation following the Korea-US summit in April last year by meeting with the US Department of Commerce and Department of Energy, which are responsible for industry and energy, to discuss various cooperation measures.

Minister of Trade, Industry and Energy Anduk Geun (left) is having a meeting with U.S. Secretary of Commerce Gina Raimondo and taking a commemorative photo in the U.S. Department of Commerce conference room in Washington D.C. on the 12th (local time).

First, with Secretary Raimondo, it was agreed to strengthen cooperation in advanced industries such as semiconductors through holding the 2nd Korea-US Supply Chain and Industry Dialogue (SCCD) in the first half of the year. They also discussed bilateral cooperation within multilateral frameworks such as the Indo-Pacific Economic Framework (IPEF). Additionally, they agreed to hold the first Korea-US-Japan Industrial Ministers' Meeting in the first half of the year, as agreed by the three heads of state at Camp David last August. Efforts to resolve corporate trade issues such as trade remedies were also discussed, while conveying Korea’s concerns regarding the US Inflation Reduction Act (IRA) and the CHIPS Act, and requesting the US Department of Commerce’s attention and cooperation on difficulties faced by Korean companies operating in the US.

With the Energy Secretary, a ministerial-level meeting was held for the first time in a year since April last year. They agreed on the need to activate ministerial-level consultative bodies to strengthen Korea-US cooperation in the energy sector, and discussed comprehensive clean energy cooperation including hydrogen, renewable energy, and nuclear power.

Meanwhile, Minister An requested cooperation from the US administration and Congress to ensure non-discriminatory and sufficient subsidies and tax credit benefits for Korean companies investing in the US. He also emphasized the need to resolve visa issues to enable timely dispatch of personnel necessary for the establishment and operation of Korean factories in the US.

Minister An stated, "We will strengthen the momentum of cooperation between the two countries through close cooperation with the Department of Commerce and the Department of Energy going forward," adding, "We will continue to make efforts to facilitate smooth investment in the US and maximize the benefits for our companies, which are the main actors of Korea-US economic cooperation."