Separator

President Lee Says Korean Firms May Hesitate to Invest in US

Separator

img

President Lee Jae Myung announced that South Korean employees held by US immigration officials in Georgia would be freed at 3 p.m. Seoul time, expressing worries that Korean corporations might become reluctant to invest in the US following the immigration enforcement action.

During a press briefing commemorating his first 100 days in office, Lee stated that the US immigration enforcement at a Hyundai-LG battery facility could make Korean businesses "extremely cautious" when considering direct investment opportunities in America.

Lee indicated that the enforcement action would influence corporations planning to establish manufacturing facilities in the US, as they may worry about receiving "unfavorable" treatment from American authorities.

Also Read: Hyundai Motor Shows Small EV Concept to Expand Loniq Lineup

"According to reports, (they) will leave the detention facility at 3 p.m.," Lee said.

A chartered aircraft transporting 306 South Koreans, ten of whom are women, along with 14 individuals of other nationalities, is scheduled to leave at approximately 1 a.m. on Friday and reach Seoul during the afternoon hours, according to Lee, who mentioned that one employee chose to stay in the US due to a family member holding permanent residency status.

Also Read: Japan's Space Endeavors: From a Peaceful Stance to a Space Power

"President Donald Trump ordered, 'Let them return freely, but those who don't want to go don't have to.' So the process was temporarily halted to change the administrative procedures," he states.

Lee stated that the flight, originally scheduled for Wednesday, was postponed when American authorities demanded that the workers be restrained with handcuffs during transport. Seoul voiced strong objections, he reported, leading Washington to change its position following "guidance from the White House."

Also Read: Ultrathin Fuel Cells: Converting Glucose into Electric Energy

He highlighted positive trends in economic data and recovery in financial markets, referencing the main Korea Composite Stock Price Index achieving an all-time peak earlier that day.

 

He further committed to enhancing diplomatic ties with North Korea and advancing initiatives aimed at fostering stability across the Korean Peninsula.

Current Issue

Most Viewed

6 Successful Business Ventures of Cristiano Ronaldo Marcus Low : A Journey Of Passion & Perseverance In The Coffee Industry | CEOInsightsAsia Vendor Is It Possible to Get Minecraft for Free on iOS? Elon Musk and Transformational Leadership Meituan's Drones are soaring in Revolutionizing the Delivery Service in China's Bustling Metropolis 5 Richest Women in Asia in 2024 Jose Luis U Yulo Jr : A Multifaceted Visionary in International Business Leadership | CEOInsightsAsia Vendor Shyam Lal Uttam: A Growth Innovator & Strategic Leader | CEOInsightsAsia Vendor Niyati Kanakia: A New-Age Edupreneur Travelingahead Of Time | CEOInsightsAsia Vendor Mohd. Burhanudin: Transforming The Malaysian Footwear Industry Via Visionary Leadership | CEOInsightsAsia Vendor Top 10 Leaders From South Korea - 2023 Mohammad Puri: Spearheading Innovative Approaches In Oil & Gas Investment And Trading | CEOInsightsAsia Vendor Marta Diaz: A Visionary Leader, Taking Business To The Next Level | CEOInsightsAsia Vendor Jose Mari Banzon: On A Mission To Make Home Ownership Available To Every Filipino | CEOInsightsAsia Vendor CES 1991: Nintendo's Treason Made Sony Rule With PlayStation's Success Jaspal Sidhu: A Passionate Educationist Striving To Make Education More Affordable & Accessible In Southeast Asia Kian Kee Kok: Driving Retail Excellence Through Innovation & Operational Integration | CEOInsightsAsia Vendor Beninder Singh Johl: Pioneering Legal Excellence & Operational Triumphs In A Global Context | CEOInsightsAsia Vendor Timothy John: Architect Of Sustainable Paradigm In Global Transportation | CEOInsightsAsia Vendor Chin Keat Chyuan: Charting Healthcare Frontiers Through Visionary Leadership | CEOInsightsAsia Vendor Josef Victor Chiongbian: A Passionate Hospitality Leader | CEOInsightsAsia Vendor Intel Chip Architect Su Fei Returns to China After 20 Years Catapulting Renewable Energy Sector by Flexing Innovative Muscles Prof. Ts. Shamsul Kamar Abu Samah: Navigating The Skies & Guiding The Future Of Aerospace Excellence | CEOInsightsAsia Vendor Jee Von: Harnessing Growth Potentials For The Brand To Make Every Step Count | CEOInsightsAsia Vendor Datuk Raghu Bathamenadan: Effectively Leading People While Fostering A Positive Work Culture | CEOInsightsAsia Vendor Felix Dan Lopez: Revolutionizing HR Strategies & Nurturing A Culture Of Excellence At Cebu Pacific Air | CEOInsightsAsia Vendor Jimmy Tan: Empowering Change While Catalyzing Growth At Fiamma Holdings Berhadd | CEOInsightsAsia Vendor Sam Loh Chin Hau: Navigating Legal Horizons In Real Estate & Corporate Law | CEOInsightsAsia Vendor Chinese Scientists Build a Mach 4 ‘ACE’ Turbojet Engine



🍪 Do you like Cookies?

We use cookies to ensure you get the best experience on our website. Read more...