A new chapter in Korea-U.S. business community cooperation to usher in the “Manufacturing Renaissance”
- Korea-U.S. Business Roundtable Held in Washington, D.C. -
(Washington, August 25, 2025) — With the recent tariff agreement serving as the groundwork in opening a new dimension of economic cooperation between Korea and the U.S., representative business figures of both countries gathered in Washington, D.C. to discuss cooperation measures to usher in a manufacturing renaissance.
The Federation of Korean Industries (“FKI”) held the KORUS Business Roundtable – Partnership for a Manufacturing Renaissance at the Willard InterContinental Washington in Washington, D.C., on the afternoon of August 25, local time. The business roundtable coincides with President Lee Jae-myung’s first visit to the United States as President and it was attended by more than forty persons, including representative business figures and government officials of Korea and the U.S.
A ‘mammoth’ of a business roundtable brings together key leaders of industry from both countries
The roundtable was attended by sixteen representative business leaders of Korea, including Jin Roy Ryu, chairman of FKI, which served as the organizing body for this occasion, as well as Jae-yong Lee, executive chairman of Samsung Electronics; Tae-won Chey, chairman of SK Inc.; Euisun Chung, executive chair of Hyundai Motor Group; Kwang Mo Koo, chairman of LG Group; Dong Kwan Kim, vice chairman of Hanwha; Kisun Chung, executive vice chairman of HD Hyundai; Tae-Soo Huh, chairman of GS Group; Won-Tae Cho, chairman of Korean Air; Jay-Hyun Lee, chairman of CJ Group; Ja Eun Koo, chairman of LS Corp; Geewon Park, chairman of Doosan Enerbility; Jungjin Seo, chairman of Celltrion Group; Yun Birm Choi, executive chairman of Korea Zinc; Sanghyun Kim, vice chairman of LOTTE Group; and Soo-yeon Choi, CEO of NAVER.
There were twenty-one representative U.S. business leaders joining the roundtable, which included Jensen Huang, CEO of NVIDIA, the top global company in AI semiconductors; David M. Rubenstein, co-chairman of the Carlyle Group, the biggest alternative investment manager in the world; Gary E. Dickerson, CEO of Applied Materials, the top semiconductor and display equipment company in the world; Rainer M. Blair, CEO of Danaher, the global leader in life science research equipment; as well as top leadership from top global players such as Google, IBM, Boeing, Lockheed Martin, Open AI, GE, and GM.
FKI Chairman Jin Roy Ryu: “Korean companies have planned a total of USD 150 billion in investments toward the U.S. to open a new golden age of KORUS Manufacturing Renaissance.”
Jin Roy Ryu, chairman of FKI, remarked, “Korean companies are planning a total of USD 150 billion in investments toward the U.S. to open a new manufacturing renaissance era, enabling global market leadership with the U.S. If Korea and the U.S. joins forces—in advanced industries such as AI, semiconductors, and biotechnology; in strategic industries such as shipbuilding and nuclear power; as well as in supply chains and nurturing talent—we can open the doors to a new golden era in manufacturing,” in his remarks as the representative of the Korean business community. Chairman Ryu added, “We can create unparalleled synergies by enabling a partnership between American capacity for innovation and Korea’s excellent manufacturing technologies. This Summit will be a solid foundation for going far beyond constructing manufacturing facilities, extending into a broad-based partnership for joint benefits. This includes partnerships in advanced industries, such as AI and semiconductors, and in the shared use of supply chains and technologies for strategic industries, such as shipbuilding and nuclear power.
The roundtable was joined by top government officials from both countries, including the Minister of Trade, Industry and Energy Jeong-kwan Kim and Secretary of Commerce Howard Lutnick. The two countries’ business leaders engaged in in-depth discussions on measures for bolstering cooperation, especially in advanced and strategic industries, under the theme of Partnership for a Manufacturing Renaissance.
During the first meeting among top Korean and U.S. business leaders in the Presidents Lee and Trump era, the three top priority agenda were:
Exploring new cooperative measures to strengthen
① Advanced Industries, ②Strategic Industries, and ③Supply Chains
The discussions were focused on three top priority areas for cooperation: ▴Advanced industries (Including semiconductors, AI, and biotechnology), ▴Strategic industries (Including shipbuilding & nuclear power and energy & the defense industry), and △Supply chains (Including mobility, batteries, and critical materials). During the discussions, Korea-U.S. cooperation was recognized as a locomotive that drove forward the economic growth in both countries and there was reaffirmed commitment to opening a new chapter in bilateral cooperation befitting the new era.
There was ensuing dialogue on energy issues, a newly unfolding development with the rise of AI as well as measures for utilizing AI to advance manufacturing. New cooperative agendas in the defense and space industries were also explored during the roundtable. In addition, initiatives on joint R&D and technological cooperation in the biotechnology field were envisioned.
In particular, the shipbuilding sector—identified as a core strategic industry—was highlighted as an area where bilateral cooperation will be further strengthened. Participants stressed that, with the U.S. government placing shipbuilding revival at the center of its policy agenda, Korea—America’s ally and a nation with world-class competitiveness in shipbuilding—stands out as the optimal partner. Both sides also expressed their intent to pursue a range of cooperative projects to advance the industry.
The discussions further underscored a shared recognition of the need to strengthen cooperation in shipbuilding along with other advanced and strategic industries. The U.S. contributes cutting-edge technologies, while Korea brings world-class shipbuilding and robust manufacturing capacity. Such cooperation was seen as essential not only to the two nations’ security but also to maintaining stability in the international order.
The dialogue also extended into reaffirmed commitments on Korea’s “energy highway” initiative and broader energy transition, supply-chain cooperation including critical minerals procurement, and mutual recommendations to improve each country’s business environment.
※ [Attachment] Overview of the Korea-U.S. Business Roundtable