Mary Ng, Canadian Minister, Sends Love Call to 'LG·POSCO'... "Please Join Our Electric Vehicle Ecosystem" (Comprehensive)

Hankyung Association & BCC Host '2nd Korea-Canada CEO Dialogue'
Minister Eung Publicly Requests "Nuclear Power Cooperation with Korea"
Korea Demands "Ontario Worker Entry Support"

Mary Ng, Canadian Minister of International Trade, who led a large economic delegation to South Korea, proposed on the 23rd that Korean companies such as LG and POSCO "participate in Canada's electric vehicle ecosystem to create a new industrial environment." She cited the electric vehicle battery factory business being built by the LG Energy Solution-Stellantis joint venture in Ontario, Canada, as an example, expressing a strong intention for economic cooperation and investment attraction to the Korean business community.

Mary Ng, Canadian Minister of International Trade (far left), is delivering the keynote speech at the "2nd Korea-Canada CEO Dialogue" held on the 23rd at the FKI Tower Conference Center. From left: Minister Ng, Goldy Hyder, President of the Business Council of Canada (BCC), Kim Chang-beom, Executive Vice Chairman of the Korea Economic Organization Association, and Yang Byung-nae, Deputy Minister for Trade of the Ministry of Trade, Industry and Energy.
[Photo by Hankyung]

Minister Ng made these remarks during her keynote speech at the '2nd Korea-Canada CEO Dialogue' held at the FKI Tower in Yeouido, Yeongdeungpo-gu, Seoul, in the morning. The event was jointly hosted by the Korea Economic Association and the Business Council of Canada (BCC). Present at the venue were Minister Ng, Yang Byung-nae, Deputy Minister for Trade of the Ministry of Trade, Industry and Energy, and 30 business leaders from companies including Hyundai Motor, LG, POSCO, Hanwha, HD Hyundai, Naver (Korea), Air Canada, AltaGas, and Atkins R?alis (Canada), who discussed ways to enhance economic cooperation between the two countries. Over 100 key members of the Canadian trade delegation joined the networking luncheon that followed the dialogue.

The business communities of both countries agreed to expand exchanges from the existing energy and mineral sectors to future fields such as digital technology and artificial intelligence (AI). Kim Chang-beom, Vice Chairman of the Korea Economic Association, said in his opening remarks, "Advanced fields such as semiconductors and AI have seen active cooperation discussions since the 2022 summit between the two countries' leaders," adding, "Now, beyond discussions, we hope to jointly lead sectors such as semiconductors, content, healthcare, and finance through the commercialization of 'Maple Valley' technology." Goldy Hyder, Chairman of the BCC, stated, "The Indo-Pacific strategies of Korea and Canada are interconnected, and Canada, along with Korea, the U.S., and Japan, can do more regarding the geopolitics of the Indo-Pacific region."

The Canadian side requested active investment from Korean electric vehicle and battery companies, proposing the creation of a 'new electric vehicle supply chain' in Canada. Minister Ng said, "Canada can also assist Korea with critical minerals and AI supply chains, and especially aims to build an electric vehicle ecosystem." She mentioned 'LG and POSCO' to express willingness for investment cooperation. Minister Ng added, "Are the representatives from LG and POSCO here? We believe that by joining the electric vehicle ecosystem we are creating, we can certainly establish a new industrial environment, a 'clean economy industry' environment."

Minister Ng presented data showing that trade volume between the two countries increased by 83% over the 10 years from 2014 to 2024. Thanks to the Free Trade Agreement (FTA), tariff-free benefits between the two countries are applied at a rate of 'over 99%.' Minister Ng revealed that during the 'Korea-Canada Trade Ministers Meeting' held in Seoul the previous day with Jung In-kyo, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, she proposed cooperation between Canadian nuclear company Candu Energy and Korea Hydro & Nuclear Power. Minister Ng said, "If the two countries cooperate in the 'clean technology' nuclear sector, we can achieve net zero," adding, "Yesterday, I asked Director-General Jung if he was interested in collaborating with Candu Energy, which is conducting nuclear refurbishment projects worldwide."

Kim Chang-beom, Vice Chairman of the Korea Economic Cooperation Association (second from the right), is delivering a greeting at the '2nd Korea-Canada CEO Dialogue.' From the left: Minister Eung, Chairman Haider, Vice Chairman Kim, and Deputy Minister Yang.
[Photo by Korea Economic Cooperation Association]

The Korean side requested cooperation regarding the entry of workers from Korean companies operating in Canada. This referred to the support request made by National Assembly Speaker Kim Jin-pyo during a meeting on the 18th at the Senate chamber in Ottawa with Senate Speaker Raymond Gagn?, House Speaker Greg Fergus, and others, concerning the activation of temporary work permits for Korean workers constructing the electric vehicle battery factory in Ontario.

Both deputy ministers said, "Speaker Kim requested assistance in resolving the entry issues for Korean businesspeople in Ontario during the meeting," adding, "Through multilateral cooperation channels in which both countries participate, we will work to mitigate uncertainties caused by supply chain and geopolitical/geoeconomic instabilities and provide a stable business environment."