South Korea’s planned $350 billion investment commitment to the United States is moving forward, with Prime Minister Han Seong-sook saying the first project could become a model for wider cooperation between the 2 countries.
Talks on the investment package are “progressing well”, Han said on Friday at an American Chamber of Commerce in Korea event.
“The projects should not be limited to the interests of one side, but should deliver tangible benefits to both countries while maintaining commercial rationale,” Han said.
She added, “As this is also an investment, discussions are under way on how to ensure profitability. If the first project produces a good model, I believe subsequent cooperation can move forward more smoothly and in more areas.”
South Korean Industry Minister Kim Jung-kwan is currently in the United States to conclude talks on the first project. Kim has previously said the project is expected to be announced this month.
Han, a former chief executive of South Korean technology company Naver, also addressed concerns from US business leaders over regulations affecting digital companies. She said Seoul does not treat companies differently based on their nationality.
“I can clearly say that we do not discriminate against companies based on nationality,” Han told the chairman of the business chamber, James Kim. She referred to her experience at Naver, which received a “very large” surcharge after US-owned eBay Korea filed a complaint with the Korea Fair Trade Commission.
Han said the government needs to balance fair competition with a better understanding of how platform businesses operate.
US digital companies have increasingly raised concerns about South Korea’s regulatory environment, making the issue part of broader bilateral economic discussions. The business chamber said these concerns have at times overshadowed cooperation in technology, investment and economic security.
The concerns have also grown following a dispute involving US-listed e-commerce company Coupang. The company became a point of tension after South Korea investigated and fined it over a major data breach. US lawmakers have alleged discriminatory treatment, while Seoul denies the charge.
Han said the government is reviewing regulations affecting new industries and using AI to identify conflicting rules imposed by different ministries.
She also said foreign officials have shown interest in investing in South Korean “mega projects”, with the government reviewing ways to make such investments easier.
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