Biden tendng to business in SKorea visit with Hyundai exec
ABC News
President Joe Biden is tending to both business and security interests as he wraps up a three-day visit to South Korea on Sunday
SEOUL, South Korea -- President Joe Biden is tending to both business and security interests Sunday as he wraps up a three-day visit to South Korea, showcasing Hyundai’s pledge to build a $5.5 billion electric vehicle and battery factory in Georgia and visiting U.S. and South Korean troops monitoring the rapidly evolving North Korean nuclear threat.
The major U.S. investment by a South Korean company, which was formally unveiled in Georgia on Friday, is a reflection of how the U.S. and South Korea are leveraging their longstanding military ties into a broader economic partnership.
The U.S. president has made greater economic cooperation with South Korea a priority, saying on Saturday that “it will bring our two countries even closer together, cooperating even more closely than we already do, and help strengthen our supply chains, secure them against shocks and give our economies a competitive edge.”
The pandemic and Russia's invasion of Ukraine in February has forced a deeper rethinking of national security and economic alliances. Coronavirus outbreaks led to shortages of computer chips, autos and other goods that the Biden administration says can ultimately be fixed by having more manufacturing domestically and with trusted allies.
