U.S. and Republic of Korea Advance Economic Cooperation at the Ninth Senior Economic Dialogue – United States Department of State

Under Secretary of State for Economic Growth, Energy and the Environment Jose W. Fernandez met with Republic of Korea (ROK) Second Vice Foreign Minister Kang Insun in Atlanta, Georgia on October 2 for the 9th U.S.-ROK Senior Economic Dialogue (SED).

Both sides underscored the more than $140 billion in new investment pledged by ROK companies and U.S.-based joint venture partners since January 2021, including more than $24 billion in Georgia. They also reaffirmed efforts to strengthen the U.S.-ROK economic relationship to deliver benefits to the American and Korean people and promote sustainable, resilient, and inclusive growth for both sides.

The United States and ROK discussed joint approaches to improving the resilience of our supply chains and safeguarding our economic security. Specifically, they highlighted ongoing work in the Minerals Security Partnership (MSP), which is helping diversify and secure global supply chains of critical minerals. As the current MSP chair, the ROK is leading efforts to expand projects around the globe and facilitate the development of advanced industries and the transition to clean energy. They also exchanged views on cooperation on investment security and addressing non-market policies and practices.

The two countries emphasized the importance of advancing clean energy, their shared commitment to achieve net-zero greenhouse gas emissions by 2050 and working together on methane reduction initiatives. They also discussed ongoing negotiations in international fora on climate finance and a global agreement on plastic pollution. The two sides reaffirmed the importance of continued collaboration and multistakeholder consultation on digital policy such as bolstering information and communication technology infrastructure as well as the deployment of Open Radio Access Network technology around the globe.

This meeting represents the first SED held outside of Washington or Seoul and highlights the continued importance of subnational diplomacy in U.S. foreign policy objectives.

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