By Diplomacy Journal Lee Jon-young

President Lee Jae-myung attended the ‘Korea-U.S. Business Roundtable- Manufacturing Renaissance Partnership’ held at a hotel in Washington D.C., U.S., on August 25 (local time), the Presidential Office announced.

Held to coincide with President Lee's first visit to the U.S., the event was attended by 16 prominent Korean business leaders with significant cooperative ties to the U.S. across various sectors.

They included Ryu Jin, Chairman of the Korea Economic Association; Lee Jae-yong, Chairman of Samsung Electronics; Chey Tae-won, Chairman of SK; Chung Eui-sun, Chairman of Hyundai Motor; Koo Kwang-mo, Chairman of LG; Kim Dong-kwan, Vice Chairman of Hanwha; Chung Ki-sun, Vice Chairman of HD Hyundai; Park Ji-won, Chairman of Doosan Energy; and Seo Jung-jin, Chairman of Celltrion.

From the U.S. side, 21 representatives from leading American companies attended, including NVIDIA CEO Jensen Huang, Carlyle Group Co-Chairman David Rubenstein, as well as executives from Boeing, Danaher, and Applied Materials.

In his keynote address, President Lee encouraged the attendees, stating, “Business leaders from both countries are the backbone of Korea-U.S. cooperation.” He emphasized, “Just as the U.S. contributed to Korea's rapid growth in the past, Korea, possessing the world's best manufacturing technology, is the optimal partner for achieving a U.S. manufacturing renaissance.”

He further stated, “To achieve a manufacturing renaissance that benefits both nations, let us enhance cooperation in strategic industries like shipbuilding and nuclear power, and in cutting-edge sectors such as semiconductors, AI, and biotechnology, thereby boosting global competitiveness. Simultaneously, let us strengthen supply chain cooperation through strategic investment and procurement between our countries.”

Regarding shipbuilding cooperation, he specifically mentioned that the US and South Korea share a history of victory, where the decisive actions of the US Navy 75 years ago turned the tide of the Korean War. He stated that the US and South Korea will actively pursue shipbuilding cooperation projects.

Business leaders from both countries, divided into advanced industries (semiconductors, AI, bio, etc.), strategic industries (shipbuilding, nuclear power, defense), and supply chains (mobility, batteries), discussed changes in the global environment and industrial cooperation strategies between the two nations. They particularly emphasized the importance of bilateral technological cooperation, including joint research, and government support.

They agreed that combining America's innovative technological capabilities with Korea's manufacturing competitiveness could drive the global market. In this process, Korean companies announced a total investment plan of $150 billion in the United States.

In his closing remarks, President Lee stated, “There are numerous areas where Korean and U.S. companies can collaborate,” adding, “The role of businesses is crucial in ushering in a new golden age for the ROK-U.S. alliance, and the government will actively support them.”