Ministry of Trade, Industry and Energy

Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan met with US Senators Tammy Duckworth of Illinois (the Democratic Party) and Andrew Kim of New Jersey (the Democratic Party) in Seoul on August 19, 2025. The two sides discussed measures to strengthen bilateral cooperation and expand investment in shipbuilding and other industries.

Illinois is home to numerous Korean logistics, appliance, and auto parts companies thanks to its excellent transportation infrastructure and workforce. New Jersey hosts North American branches of major Korean corporations and businesses across diverse sectors including electronics, food, and machinery.

During the meeting, Minister Kim requested unwavering attention and support for Korean companies that have established operations in both states, and throughout the US. To ensure further bilateral economic ties, he also emphasized the importance of stable and consistent policies that facilitate investment in the US.

The minister cited Hanwha Philly Shipyard near New Jersey as a successful example of shipbuilding cooperation between the two countries, noting the collaboration between the Korean shipbuilder and the state in sourcing qualified professionals and rebuilding the shipbuilding ecosystem. He expressed hope that the US Congress would support diversifying bilateral shipbuilding cooperation from merchant ships to naval vessels, emphasizing Korea’s world-class shipbuilding capabilities and technology as a reliable partner for the US.

Both sides agreed on the need to develop new policies and enhance bilateral partnership in a shifting trade landscape. Meanwhile, the Ministry of Trade, Industry and Energy plans to provide support for industries prone to recent tariff changes and devise mid- and long-term measures to strengthen industrial competitiveness and respond to the evolving trade environment.