Similar Stories to South Korea Is Going Big On American Manufacturing. The Battery Belt Could Benefit The Most. on Bing News

jtowfighi@insider.com (John Towfighi), Business Insider
Mon, 09/23/2024 - 10:05am

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.

Topics: rebecca zisser/bisouth korean chips act united nations taiwan lg belt peterson institute international economics ira kia february texas arizona additionally sk hynix president joe biden china yeo korea's ministry trade industry energy wall street journal so i samsung world bank korea korean i inflation reduction act chips ev evs yeo han-koo south financial times hyundai yeo business insider science act china georgia indiana yeo jobs plant supply products market advantage global focus create sense announced laws expected factors data states dollars tax moment us-made country outbound

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