Korea International Trade Association (KITA) on the 23rd held a "meeting with the trade industry hosted by Tennessee Gov. Bill Lee" at the Grand InterContinental Hotel in Samseong-dong, Gangnam-gu, Seoul.
Yoon Jin-sik, KITA chairman, said in a welcome address that "Tennessee, a key production base for global finished carmakers and a leader in North America's transition to electric vehicles, and cooperation with our corporations will further strengthen the supply chain cooperation in advanced industries between Korea and the United States," adding, "For smooth local expansion, we ask for special attention and support at the State Governments level regarding visa difficulties faced by our engineers."
The U.S. state of Tennessee is a region where many large Korean corporations, including LG Electronics, Hyosung Heavy Industries, and Hankook Tire, have entered, and it has built a finished automobile value chain centered on plants such as Nissan, General Motors (GM), and Volkswagen.
Recently, investments by domestic battery corporations have led to entries by related small and midsize and mid-cap corporations. Establishment of joint plants by Ford–SK On and GM–LG Energy Solution is being pursued, and construction of LG CHEM's cathode materials plant is also underway.
Gov. Bill Lee said, "Korea is a core economic partner for Tennessee in advanced manufacturing, including battery materials and cells and finished automobiles," adding, "As Korean corporations have greatly contributed to Tennessee's economic growth and job creation, the State Governments will spare no support for securing competitive talent, creating a business-friendly environment, and ensuring a stable energy supply."
At the meeting, in addition to the KITA chairmen's group, member companies of the Korea-U.S. Economic Council (KUSEC) and officials from corporations that have entered or are considering entering Tennessee attended. From Tennessee, in addition to the governor, a 10-member delegation including Lt. Gov. and Commissioner of Economic and Community Development Stuart McWhorter and Deputy Commissioner Allen Borden attended.
Separately, in the morning, Gov. Lee also met with SK On CEO Lee Seok-hee. In addition to CEO Lee, he is scheduled to meet major corporations, including LG CHEM Vice Chairman Shin Hak-Cheol and LG Energy Solution CEO Kim Dong-myung, as well as officials from LG Electronics and Hyosung Heavy Industries, to discuss cooperation plans.