Yeo Han-koo emphasized that the massive subsidies and tax incentives from the Inflation Reduction Act and the CHIPS Act provide a strong motivation for South Korean companies to invest in the US, aligning perfectly with both nations’ interests in emerging technologies. This alignment encourages South Korean investments aimed at boosting American manufacturing capabilities and job creation in the sector of green technology.
The significant investment of $21.5 billion by South Korean companies in 2023 marks the highest inflow from any country into US projects. This figure surpasses Taiwan's 2022 investment, demonstrating a strategic redirection towards the United States, particularly in manufacturing sectors that include electric vehicles and semiconductor chips.
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