S. Korea wants more investment from US: trade minister

By Yonhap

Published : June 28, 2019 - 14:09

South Korea is ready to provide an array of benefits to US companies seeking to invest in Asia's fourth-largest economy, the country's trade minister said Friday.

"Cooperation between South Korea and US investors has become even more important than ever amid increased investment in high-end technologies, emerging industries and startups," Trade Minister Yoo Myung-hee said during a meeting with members of the American Chamber of Commerce in Korea.

Trade Minister Yoo Myung-hee (Yonhap)

The remark came as US firms have been expanding their investments in not only traditional sectors such as manufacturing but also in other emerging areas here, according to the Ministry of Trade, Industry and Energy.

The amount of investment in South Korea pledged by US investors reached $5.9 billion in 2018, up a whopping 25 percent from a year earlier.

The trade volume between the two countries advanced nearly 10 percent over the cited period to reach $130.6 billion, according to the ministry. (Yonhap)