South Korea PM sees US investment cooperation model

Speaking at an American Chamber of Commerce in Korea event, Han emphasized that such projects should benefit both countries while remaining commercially viable. "As this is also an investment, discussions are under way on how to ensure profitability," she said. "If the first project produces a good model, I believe subsequent cooperation can move forward more smoothly and in more areas."

South Korea's Industry Minister, Kim Jung-kwan, is currently in the United States to finalize talks on the initial project, which has previously been slated for announcement this month.

Han, a former chief executive of tech firm Naver, also addressed concerns from U.S. business leaders regarding the regulation of digital firms, stating that Seoul does not discriminate based on nationality. She cited a past instance where Naver faced a significant surcharge after a complaint from U.S.-owned eBay Korea to the Korea Fair Trade Commission. Han noted the need to balance fair competition with an understanding of platform businesses.

Concerns about South Korea's regulatory environment for digital companies have increasingly become a focal point in bilateral economic discussions, sometimes overshadowing cooperation in technology, investment, and economic security, according to AMCHAM's Kim. These concerns have been amplified by a dispute involving U.S.-listed e-commerce firm Coupang, which faced investigation and fines from South Korea following a major data breach. U.S. lawmakers have alleged discriminatory treatment, a charge denied by Seoul.

Additionally, Han mentioned that the government is reviewing regulations for new industries and utilizing AI to identify conflicting rules across different ministries. She also noted foreign interest in investing in South Korean "mega projects" and that the government is exploring ways to facilitate such investments.