Samsung Electronics and other major South Korean companies on Sunday announced fresh domestic investment plans at a meeting with President Lee Jae Myung, who hopes the moves will counter concerns that the firms would prioritise US investments under a trade deal.
Lee’s meeting with business leaders came days after his government finalised a trade deal with the United States, in which Seoul pledged to invest $350 billion (€301.41bn) in US industries. That’s in exchange for the Trump administration agreeing to withdraw its highest tariffs.
