Ministry of Trade Industry and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Trade Minister Yeo Han-koo met with Thomas Byrne, President of The Korea Society, in Seoul on Tuesday, November 4, to exchange views on ways to enhance Korea–U.S. economic cooperation. Established in 1957, The Korea Society is a U.S. nonprofit organization dedicated to promoting mutual understanding and friendly cooperation between Korea and the United States through a wide range of policy forums, seminars, and educational programs across politics, economics, culture, and education.

Minister Yeo highlighted that Korea has been actively contributing to the revitalization of U.S. manufacturing and job creation through large-scale greenfield investments, while also becoming one of the key importers of U.S. energy and agricultural products such as LNG and crude oil. He underscored the close trade and investment ties between the two countries and noted that if the USD 150 billion in direct investment plans announced by Korean companies in August and the USD 350 billion strategic investment MoU agreed through the Korea–U.S. tariff negotiations on October 29 are implemented as planned, bilateral industrial supply chains will be further strengthened.

Minister Yeo also conveyed Korean companies’ concerns regarding the recent detention of Korean workers at a plant in Georgia, urging President Byrne to help ensure that such incidents do not recur. He requested The Korea Society’s attention and support for fundamental solutions, emphasizing the need to improve visa systems—by ensuring smooth entry and stable investment conditions for Korean business personnel in the short term, and by considering the establishment of a new visa category for Korean professionals over the longer term.