Comment on South Korea is going big on American manufacturing. The Battery Belt could benefit the most.

South Korea is going big on American manufacturing. The Battery Belt could benefit the most.

iStock; Rebecca Zisser/BISouth Korean companies invested more in the US in 2023 than any other country, per UN data.The Inflation Reduction Act and CHIPS Act offer incentives for US-made EVs, batteries, and chips.Yeo Han-koo, South Korea's former trade minister, said US policy attracted South Korean companies.South Korean companies are investing billions of dollars in the US to take advantage of two big laws meant to boost American manufacturing.A Financial Times analysis of United Nations data found South Korean companies invested $21.5 billion in US projects in 2023, more than any other country.

 

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