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Free AccessROK: President Yoon- South Korea And US Are Ideal Partners For Friendshoring
Comments from South Korea President Yoon Suk-yeul hitting wires ahead of his state visit with President Biden stating that, "US and South Korea are ideal partners for 'friend-shoring' of supply chains."
- Yoon said the Republic of Korea and the US security alliance "should evolve into supply chain and future-oriented innovative technology alliance."
- Yoon continued: "South-Korea-US alliance must leap into a new phase to overcome complex crises together [and] South Korea will strengthen institutions and policies as befits its global status."
- White House National Security Advisor Jake Sullivan told reporters yesterday that: "President Biden and President Yoon will announce major deliverables on extended deterrence on cyber cooperation, climate mitigation, other issues."
- Sullivan highlighted Seoul's increasingly prominent position within international organisations and praised South Korea's uptick of investment in the US: "During the Biden administration alone, just in the last 2+ years, the Republic of Korea has invested over USD$100 billion in the United States."
- Biden and Yoon will visit the Korean War Memorial this evening ahead of discussions tomorrow on the nuclear threat from North Korea, Taiwan, China, and semiconductors.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.