The Korea International Trade Association (KITA) raised concerns about the difficulties of investing in the United States, including tariffs and shifts in trade policy, and called for a predictable trade environment at the largest U.S. investment promotion event.
KITA said Thursday that it conveyed Korean companies' concerns to the U.S. Department of Commerce and reviewed investment conditions in each state at "SelectUSA 2026," held at National Harbor in Maryland on Wednesday, local time.
SelectUSA is the largest investment promotion event hosted by the U.S. Department of Commerce. Last year, about 2,700 companies from more than 100 countries participated alongside U.S. state governments. This year's event ran for four days from Tuesday, allowing participants to engage directly with state government officials and obtain investment information, including tax incentives.
At the event, KITA Executive Vice Chairman Jang Suk-min met with Diane Farrell, Deputy Under Secretary at the U.S. Commerce Department's International Trade Administration (ITA). "Changes in tariffs and trade policy are one of the major difficulties when reviewing or pursuing investment in the United States," Jang said, urging the U.S. side to create a predictable trade environment that enables long-term business planning.
He also met with state government officials from Georgia, Tennessee, and Arizona, where Korean companies have made significant inroads. These regions host Hyundai Motor Group's (005380.KS) automobile production bases, along with SK On's battery plant and LG's (003550.KS) home appliance factory, among others.
In particular, given that U.S. Immigration and Customs Enforcement (ICE) detained a large number of Korean workers dispatched to the construction site of the Georgia joint venture plant between Hyundai Motor and LG Energy Solution (373220.KS) last year, KITA closely consulted with state government officials and reviewed investment conditions to prevent similar incidents from recurring.
KITA said it "urged federal and state-level attention to ensure that investment promotion policies, including incentives, are operated consistently and transparently" to the U.S. side.
