Korean companies to invest $150 billion in U.S., business association says

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President Lee Jae Myung, second from left, attends a business roundtable of Korea and the United States at a hotel in Washington on Aug. 25. [YONHAP]
President Lee Jae Myung, second from left, attends a business roundtable of Korea and the United States at a hotel in Washington on Aug. 25.

Korean companies plan to invest approximately $150 billion in the United States, the chair of a business association said Monday, as Korean President Lee Jae Myung and U.S. President Donald Trump discussed ways to expand economic cooperation at their summit.

Ryu Jin, chairman of the Federation of Korean Industries, announced the combined amount of investment pledge on behalf of Korean companies during a business roundtable held between the business executives of the two countries.

The event was attended by business executives and senior officials of the two countries, including Samsung Electronics Chairman Lee Jae-yong, U.S. Secretary of Commerce Howard Lutnick and Nvidia CEO Jensen Huang.

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