Washington: The state-run Korea Trade Insurance Corp. (K-SURE) has inaugurated a branch office in Washington, marking a significant step in its efforts to support South Korean enterprises aiming for exports and investment in the United States. This move comes in the wake of concerns over U.S. President Donald Trump's tariff policy.
According to Yonhap News Agency, the launch event was graced by the presence of South Korean Ambassador to the U.S. Cho Hyun-dong, K-SURE President Jang Young-jin, Washington office chief Steve Kang, among other participants. Jang emphasized the strategic importance of the Washington D.C. office in aiding the increasing investments by Korean businesses in the U.S., as global supply chains continue to evolve.
Jang revealed that K-SURE plans to allocate over US$2.2 billion this year to finance several new battery-related projects spearheaded by Korean companies in the U.S. He underscored the corporation's dedication not only to supporting Korean exports and overseas investments but also to reinforcing South Korea-U.S. economic ties and fostering global economic development through international cooperation.
Kang highlighted the opening of the Washington office as a pivotal moment in the corporation's mission to enhance economic relations between Korea and the U.S. He outlined several objectives, including promoting business growth for both South Korean and U.S. companies and bolstering collaboration with the U.S. government.