South Korean President Lee Jae Myung used a New York investment summit Tuesday to press global financial leaders for more investment in South Korea, arguing the country’s economy is recovering and offering new opportunities. He said Korea’s monthly exports topped $100 billion for the first time and projected growth in the high 3% range.
Lee told attendees that investors could later regret not backing South Korea sooner. He said his government plans to double semiconductor memory production capacity within five years, build out core artificial intelligence supply chains and establish a future-response fund to support advanced industries.
He also pointed to capital market reforms, including changes to corporate law aimed at boosting shareholder value and a 24-hour foreign exchange trading system, saying South Korea is moving beyond the so-called Korea discount. For American readers, that term refers to the long-running view that Korean stocks have traded below their perceived value compared with other major markets.
Lee also referred to his talks a day earlier with U.S. President Donald Trump, including cooperation in shipbuilding such as warship construction. The summit brought together figures including BlackRock Chairman Larry Fink and Warburg Pincus Chairman Timothy Geithner, underscoring Seoul’s effort to deepen ties with major Wall Street investors.
