South Korean President Yoon Suk-yeol and United States (US) President Joe Biden toured a Samsung Electronics chip plant together on Friday as part of the latter’s first stop in his visit to Asia.
A fact sheet released by the White House said that the stop demonstrated how the alliances between South Korea and the US delivered for the American middle class, investing in manufacturing, creating good-paying jobs, and strengthening the US supply chains.
With more than $62 billion in foreign direct investment by Korean firms in the United States as of 2020, the United States and the Republic of Korea are among each other’s largest trading and investment partners, supporting over 94,000 Americans and bringing our governments, businesses, and people closer together.
After a 20-minute tour of the large complex led by Samsung Electronics Vice Chairman Lee Jae-yong, Biden and Yoon shared a stage to speak on the countries’ growing cooperation on semiconductors, supply chains, and charting a shared future.
Yoon, quoted in a report by Yonhap news agency, said he expects the rebirth of the South Korean-US relationship as “an economic security alliance based on collaboration on cutting-edge technologies and supply chains as a result of today’s visit.”
In his speech, Biden emphasized the importance of ensuring that the economic and national security of the US and South Korea were not dependent on countries that don’t share their values, especially after the COVID-19 pandemic affected the world.
Both Biden and Yoon will meet again on Saturday for their first summit, which will begin in a small group and then grow to cover the full spectrum of security and economic concerns that the allies and the region face.
Biden will wrap up his three-day visit at the Korean Air and Space Operations Center on Sunday.
The US President will proceed to Japan after his South Korea visit.
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