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How the U.S.-South Korea Joint Fact Sheet Will Shape Future Investments

PoliticsHow the U.S.-South Korea Joint Fact Sheet Will Shape Future Investments
Foreign Minister Cho Hyun held a luncheon meeting with a delegation of U.S. senators on Thursday / Provided by the Ministry of Foreign Affairs
Foreign Minister Cho Hyun held a luncheon meeting with a delegation of U.S. senators on Thursday / Provided by the Ministry of Foreign Affairs

On Thursday, Foreign Minister Cho Hyun met with a visiting U.S. Senate delegation and pledged to ensure the smooth implementation of the Joint Fact Sheet (JFS) agreed upon by the leaders of South Korea and the U.S. last year.

The Ministry of Foreign Affairs reported that during a luncheon with the delegation, Minister Cho expressed optimism that the swift execution of the U.S.-Korea fact sheet would maximize mutual interests and prosperity for both nations in the face of rapidly evolving global dynamics.

The meeting was attended by key figures including Senator Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, along with Representatives John Curtis (R-UT), Thom Tillis (R-NC), and Jacky Rosen (D-NV).

Minister Cho highlighted the recent passage of the Special Law on U.S. Investments by the National Assembly on March 12, which established a legal framework for rapidly implementing a 350 billion USD investment agreement in the economic sector. He urged Congress to support the swift execution of agreements in critical security areas, including peaceful nuclear energy use, nuclear-powered submarines, and shipbuilding.

The U.S. delegation reaffirmed the unwavering bipartisan support within Congress for the robust U.S.-South Korea alliance. They committed to ongoing congressional efforts to enhance future-oriented cooperation in vital areas such as critical minerals, supply chains, and advanced technology, alongside the implementation of core fact sheet agreements.

Minister Cho stressed the importance of stable residency conditions for skilled Korean workers in the U.S. to facilitate strategic investments. He requested that Congress consider improving visa systems, including the proposed Korean Partners Act.

The minister also outlined the South Korean government’s initiatives to reduce military tensions, rebuild mutual trust, and restart dialogue between North and South Korea. The delegation pledged active congressional cooperation to promote peace and stability on the Korean Peninsula and in the broader region.

Both parties acknowledged the need for U.S.-South Korea collaboration in seeking a swift and peaceful resolution to the Middle East crisis and ensuring stable energy supplies, as reported by the Ministry of Foreign Affairs.

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