KB News Desk
A delegation led by the Korea International Trade Association visited Washington this week for talks with US government and trade officials, seeking improved investment conditions for Korean companies operating in the US.
KITA said Friday that the delegation, led by Executive Vice Chairman Lee In-ho and joined by major industry groups, including the Korea Offshore & Shipbuilding Association and the Korea Iron & Steel Association, conducted a high-level outreach mission in Washington from Monday to Wednesday.
The visit comes as Korean firms move forward with a cornerstone bilateral agreement between Seoul and Washington aimed at fortifying supply chain resilience and securing tariff relief. The $350 billion strategic investment package combines a $200 billion financing package for US Treasury bonds and infrastructure and strategic industry investments with $150 billion earmarked for industrial projects such as high-priority shipbuilding cooperation.
The delegation aims to use the planned investments as leverage to address challenges facing Korean businesses in the US and ease trade tensions with Washington.
During the trip, Korean representatives met with William Kimmitt, US under secretary of commerce for international trade, and Rick Switzer, a deputy US trade representative.
The representatives highlighted how much Korean companies contribute to the US economy while seeking to mitigate potential trade risks ahead of US decisions on an investigation into goods made with forced labor and a separate investigation into alleged industrial overcapacity, both initiated under Section 301 of the 1974 Trade Act.
The delegation also expanded its outreach on Capitol Hill, meeting with Representative Buddy Carter of Georgia — a state that has Georgia has become one of the leading US destinations for Korean investment — as well as Representatives Joe Wilson and Mike Kelly, co-chairs of the Congressional Korea Caucus. It urged US lawmakers to expand investment incentives, including tax benefits for Korean companies running businesses in the US.
The group also called for a dedicated visa quota for Korean nationals, arguing that a shortage of skilled workers has become one of the biggest challenges for Korean businesses in the US and could slow down future investment.
On Tuesday, KITA hosted an industry reception for senior US congressional staff, bringing together major Korean companies with extensive US operations — including Samsung, Hyundai Motor Group, LG, HD Hyundai, Posco Group and Hyundai Steel — to strengthen ties with policymakers and expand industry networks.
“Korea’s planned $350 billion investment will play a pivotal role in stabilizing US supply chains and deepening bilateral cooperation in advanced industries,” Lee said. “We will continue to work closely with the US government and Congress to address the challenges facing Korean businesses and foster a more favorable investment environment.”
