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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI) and SK Group, stated that he would consider additional investments in the United States if incentives are provided, even after the inauguration of Donald Trump’s second administration.
Speaking with reporters on Friday (local time) at the "2025 Trans-Pacific Dialogue" (TPD) event hosted by the Chey Institute for Advanced Studies at a hotel in Washington, D.C., Choi was asked about his plans for U.S. investments. He responded, "We will continue to review the possibility. It is only natural for businesses to make necessary investments."
He further explained, "No company approaches investment decisions thinking, 'I will invest this much during Trump's term.' Instead, we consider whether it is beneficial or detrimental to our business." He acknowledged that "the Trump administration wants more production facilities in the U.S., but incentives must accompany such investments."
Choi added, "The U.S. has been talking about lowering taxes, but nothing concrete has been announced yet. We need to wait and see. Only then can we plan and make decisions accordingly, but at the moment, there is nothing definite."
When asked whether incentives referred specifically to tax cuts or broader policy changes, Choi replied, "It’s not just about money. There can be various types of incentives. Right now, Korea and the U.S. need to collaborate to create mutual benefits."
He also emphasized, "If the relationship is only about buying at lower prices and selling more, it becomes quite cold and transactional. We are reaching a point where simply relying on product exports is no longer sustainable. We need to engage in big collaborative projects that generate synergy. That is how South Korea can successfully ride the wave of the current global trend."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
