Korean, US biz leaders call for support to accelerate Korean investment projects in US

Korean and U.S. business leaders on Thursday called for faster regulatory approvals, tax and financial support, and visa reforms to ensure the successful implementation of major Korean investment projects in the United States. The call came in a joint declaration issued at a plenary meeting of the U.S.-Korea and Korea-U.S. Business Council, hosted by the Federation of Korean Industries (FKI), and attended by about 60 political and business leaders and experts from the two countries. Earlier this month, U.S. President Donald Trump announced details of Seoul's planned $200 billion investment in the U.S., part of a broader $350 billion commitment agreed to by the two countries last year in exchange for lower U.S. tariffs on Korean goods. In the joint declaration, the business circles called for measures to reduce trade uncertainty and reform regulations, urging the two governments to introduce fast-track approval procedures and provide tax and financial incentives for companies participating in strategic investment projects. They also called for improvements to visa systems and the establis