South Korea has secured five-point-nine billion dollars in U.S. investment during President Yoon Suk Yeol's U.S. trip, with one-point-five billion dollars pledged by tech firm Corning.
At a press briefing in Washington on Wednesday, senior presidential secretary for economic affairs Choi Sang-mok noted that the pledges came within the first two days of President Yoon’s visit, with additional announcements by U.S. companies expected within the year.
At a South Korea-U.S. business roundtable attended by President Yoon on Tuesday, Corning Chairman and CEO Wendell Weeks said his company will make the investment over the next five years.
Also present was Lam Research President and CEO Timothy Archer, who said his company plans to build its first Asia research and development center in South Korea to create the world's largest semiconductor supply chain by 2030.
The cumulative total of investments pledged includes two-point-five billion dollars and one-point-nine billion dollars previously pledged by Netflix and six advanced technology firms, respectively.