South Korean President Yoon Suk Yeol delivers remarks to the US-Korea Business Council at the US Chamber of Commerce in Washington DC, US on April 25.WASHINGTON - South Korean President Yoon Suk Yeol said on Tuesday the South Korean-US alliance must "leap into a new phase" to jointly overcome complex crises, including slowing economic growth, technology competition with strategic rivals and climate change.
"Competition for technological hegemony, energy issues and climate crises are casting more uncertainties on business activity day by day," Yoon said. Core technologies from the United States and South Korea's advanced manufacturing capabilities would "create enormous synergies that will benefit both countries," he said.
Yoon said his government was working to create a fair and predictable market environment, offer significant tax credits and improve regulations to facilitate bold investments by US companies. Six other tech companies which attended the event have together pledged $1.9 billion, including Air Products and Chemicals Inc, Plug Power Inc, ON Semiconductor Corp, Greene Tweed & Co Inc, Purecycle Technologies Inc and EMP Belstar.