The Ministry of Foreign Affairs held the 9th Korea-US Public-Private Economic Forum on December 16 in Seoul, in collaboration with the Korea Institute for International Economic Policy (KIEP), under the theme ‘New Horizons for the Alliance Cooperation in Critical Industries’. The forum was attended by experts from major companies, think tanks, and government officials from both countries.
In her opening remarks, Vice Minister of Foreign Affairs Kim Jin-ah assessed that the cooperation between Korea and the US has been strengthened through trade and security agreements, evolving into a ‘future-oriented comprehensive strategic alliance’ encompassing security, economy, and advanced technology. She also proposed focusing discussions on three key areas: shipbuilding, semiconductors, and energy, given the commitment to invest in strategic industries through the Korea-US customs agreement.
Jonathan Fritz, Senior Deputy Assistant Secretary of State for East Asian and Pacific Affairs, praised the development of the Korea-US economic alliance encompassing manufacturing and advanced industries in his video address. He emphasized the importance of the three strategic industries to be discussed at the forum as part of the follow-up measures to the Korea-US summit. He also highlighted the irreplaceable role of Korean companies investing in the US economy and called for continued public-private cooperation to maintain competitiveness in economic security and advanced industries.
The forum discussed strengthening the Korea-US shipbuilding and maritime partnership, stabilizing the supply chain in the semiconductor industry, and cooperation in energy sectors such as small modular reactors (SMRs). The Ministry of Foreign Affairs will take necessary measures to derive practical cooperation plans in shipbuilding, semiconductors, and energy based on the discussions at this forum.