President Lee Jae-myung on Wednesday emphasized inter-ministerial coordination regarding U.S. investment projects as part of follow-up work on the Korea-U.S. tariff negotiations. While praising Industry Minister Kim Jung-kwan, who recently traveled to the United States to discuss U.S. investment projects, the president said, "Please hold advance consultations on specific details with the Ministry of Foreign Affairs and the National Security Office at the Presidential Office, and coordinate well with other ministries in advance."
At the Cabinet meeting, which also served as an emergency economic review meeting held at the Presidential Office, Lee said, "This applies not only to this matter but to other ministries as well. The prime minister is doing well and everyone is working hard, but when issues arise that cross ministerial boundaries, if they are not resolved autonomously, I end up having to step in to mediate." He added, "Please pay particular attention and get along well with one another." He also said, "If you deliberately coordinate related tasks in advance, things will become easier later on."
Lee praised Kim, telling him, "You are playing a major role on U.S. investment matters," and asking about initiatives such as the establishment of the MASGA office. Still, the president reiterated, "U.S. investment is not solely an industrial matter. It involves other diplomatic and security-related negotiations, so please coordinate well with other ministries in advance." A senior Presidential Office official explained, "Along with competition among ministries to produce results, the president also called for cooperation that can generate synergy."
Kim visited Washington, D.C., from November 6 to 9, meeting with U.S. Commerce Secretary Howard Lutnick and other key industry and trade officials to discuss pending issues. The meetings included discussions on the direction of specific strategic U.S. investment projects in sectors such as shipbuilding and energy. On the occasion of these meetings, the two countries signed a memorandum of understanding (MOU) to promote business-to-business cooperation projects, including the establishment of a "Korea-U.S. Shipbuilding Cooperation Center," joint research and development (R&D), and direct investment.
