Senior officials of South Korea and the U.S. have said bilateral cooperation is critical in addressing the issue of weak supply chains for key technology products such as semiconductors and batteries for electric vehicles.
Acting U.S. under-secretary of state for economic growth, energy and the environment Marcia Bernicat said in an economic forum hosted by the Washington-based Atlantic Council think tank on Wednesday that the two countries are working together to build resilient, diverse and secure supply chains for critical technologies.
She added that bilateral cooperation creates opportunities to enhance competitiveness, improve the already robust relationship between the two countries, and create jobs of the future for their citizens.
Bernicat said the two countries' cooperation should also be expanded into the fields of quantum computing, climate change countermeasures and global vaccine supply.
The U.S. diplomat welcomed the 39 billion U.S. dollars of investment pledges made by Korean companies at the sidelines of the summit between President Moon Jae-in and President Joe Biden in Washington in May.
In a keynote speech at the forum, South Korea's second vice foreign minister Choi Jong-moon, said the investment plans revealed at the summit are a "symbolic move" and that they can materialize only when the two countries' governments are prepared to help with proper policy tools.
He noted the U.S.'s 52-billion dollar program to support semiconductor manufacturing and hoped Korean EV battery manufacturers can be supported by the program to contribute to the supply network in the U.S.
Kim Ji-yeon, Arirang News.