FM Cho calls for U.S. entrepreneurs to expand investment in S. Korea

South Korean Foreign Minister Cho Tae-yul called on American entrepreneurs to “more actively” expand their investment in Korea, stressing Seoul’s endeavors to ensure a friendly business environment in the Asian country, his office said Wednesday.

Cho made the call during Tuesday’s meeting with representatives from a series of companies, including Google, Pfizer and Citibank. He was in Washington for various engagements, including talks with U.S. Secretary of State Antony Blinken set for Wednesday.

“While saying that our government is making efforts to ensure that South Korea can be evaluated as the world’s best country for business operations, Minister Cho requested that U.S. companies more actively expand investment in South Korea,” the ministry said in a press release.

Noting that as allies, South Korea and the United States face shared security and economic threats, Cho stressed the importance of cooperation among their governments and companies to ensure stability in supply chains and maximize economic opportunities, according to the ministry.

He also called for U.S. companies’ support as Seoul is preparing to host international forums, namely the Summit for Democracy next month and the AI Safety Summit in May — in what he said represents South Korea’s active efforts to help form new international norms and safeguard the rules-based international order.

Atul Keshap, senior vice president of the U.S. Chamber of Commerce, was among the participants.

He called for the South Korean government’s continued interest to ensure that companies of both countries can make more investment to contribute to creating good jobs and promoting economic growth, according to the ministry.

Also on Tuesday, Cho attended a meeting with key researchers at the Carnegie Endowment for International Peace.

There, he emphasized South Korea’s push for a diplomatic strategy based on a “global comprehensive strategic alliance” with the United States, according to the ministry.

The minister also noted that during his planned talks with Blinken, the two sides will check follow-up measures to last year’s bilateral summit between President Yoon Suk Yeol and U.S. President Joe Biden, and explore ways to expand mutual prosperity and demonstrate a “strong” alliance buttressed by the “alignment of the two countries’ visions, values and interests.”