Image Viewer

South Korean companies have emerged as top investors in the US, with project commitments totaling $21.5 billion last year, surpassing Taiwan, which was the largest investor in 2022. This surge in investment is driven by lucrative US subsidies and efforts by the Biden administration to reduce reliance on China in its supply chain. Representative Darren Soto highlighted ongoing collaborations with South Korean manufacturing partners and efforts to secure over $500 million in federal funds through the CHIPS Act, which is expected to generate numerous local jobs in his district, including at NeoCity. South Korean companies are investing record amounts of capital into the US economy, according to data from the UN Conference on Trade and Development.