President Joe Biden will wrap up a three-day visit to South Korea on Sunday by showcasing Hyundai’s pledge to build a $5.5 billion factory in Georgia and paying a visit to troops monitoring the rapidly evolving North Korean nuclear threat.
The major U.S. investment by a South Korean company was a reflection of how the countries are leveraging their longstanding military ties into a broader economic partnership.
The pandemic and Russia’s invasion of Ukraine in February has forced a deeper rethinking of national security and economic alliances. Coronavirus outbreaks led to shortages of computer chips, autos and other goods that the Biden administration says can ultimately be fixed by having more manufacturing domestically and with trusted allies.
A Hyundai spokesperson did not respond to an email asking if the Georgia plant would be unionized. A senior Biden administration official, who briefed reporters on the condition of anonymity, said there was no contradiction between Biden encouraging investors to embrace union workforces while his administration does “whatever it can” to encourage investment and bring jobs to the U.S.
Yoon campaigned on a promise to strengthen the U.S.-South Korea relationship. He reiterated at a dinner on Saturday in Biden’s honor that it was his goal to move the relationship “beyond security” issues with North Korea, which have long dominated the relationship.“I will try and design a new future vision of our alliances with you, Mr. President,” Yoon said.
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