Lee: "$150 Billion Is a Dedicated Shipbuilding Cooperation Fund"
President Lee Jae Myung is speaking at the 3rd Emergency Economic Inspection Task Force (TF) meeting held at the Yongsan Presidential Office Building in Seoul on the 30th. Photo by Yonhap News
President Lee Jaemyung announced on the 31st, "After gathering diverse opinions and repeatedly refining our strategy, we have finally concluded the customs negotiations today."
On this day, President Lee stated through his social networking service (SNS), "Although the timeline was tight and the circumstances were challenging, the government approached the negotiations with the sole priority of serving the national interest."
President Lee explained, "Through this negotiation, the government has eliminated uncertainties in the export environment and has aligned U.S. tariffs to be at or below the level of major competing export countries, thereby creating conditions for our country to compete on equal or superior terms with major nations."
President Lee continued, "The $350 billion fund included in the trade agreement will solidify the foundation for strategic industrial cooperation between the two countries," and emphasized, "In industries where we have strengths?such as shipbuilding, semiconductors, secondary batteries, bio, and energy?this will support our companies in actively entering the U.S. market."
He further explained, "Of this, $150 billion will be dedicated as a shipbuilding cooperation fund, providing strong support for our companies' entry into the U.S. shipbuilding industry."
President Lee also stated, "It is important that negotiations do not result in unilateral benefit, but instead produce mutually beneficial outcomes," and analyzed, "This agreement is the result of aligning the United States' interest in revitalizing manufacturing with our determination to enhance our companies' competitiveness in the U.S. market."
He assessed, "Through this, I expect that industrial cooperation between Korea and the United States will be further strengthened and the Korea-U.S. alliance will become even more solidified."
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