South Korea's industry minister said Seoul and Washington have signed a framework agreement to advance USD 350 billion in strategic U.S.-based investments.

Kim Jung-kwan told reporters on Friday that both countries aim to finalise the planned projects by 2029, describing the initiative as a major expansion of industrial cooperation.

The agreement is expected to boost South Korean investment across key U.S. sectors, including semiconductors, batteries, electric vehicles and advanced manufacturing.

Washington and Seoul have long cooperated in technology, energy and defence, and officials say the new investment roadmap will help strengthen supply-chain resilience amid global disruptions.

U.S. media reported that the framework aligns with the Biden administration's push to attract foreign manufacturing, particularly in chip production and clean-energy technologies.

Analysts say the deal reflects growing economic interdependence as the U.S. seeks reliable partners to counter supply risks linked to China and emerging geopolitical tensions.

South Korean companies, including major chipmakers and EV-battery producers, are expected to scale up their U.S. operations, deepening their footprint in America's industrial and technology sectors.

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