On November 10, Michelle Steel, the U.S. Ambassador to South Korea, stated that President Yoon Suk Yeol and President Donald Trump have significantly elevated the U.S.-Korea alliance to a level not seen in a generation.
During her speech at the second U.S.-Korea Diplomatic Forum held at the Glad Hotel in Yeouido, Seoul, Steel noted that Korea's investment of $350 billion (approximately 471 trillion won) in U.S. strategic industries is included in this elevation, and that the National Assembly is moving forward with a special law to facilitate this investment.
She emphasized that in the coming weeks, the National Assembly will take further steps toward fulfilling the promise to increase defense spending to 3.5% of GDP. Previously, South Korea agreed to raise its defense budget to this level by 2035 in response to demands from the Trump administration regarding burden-sharing among allies.
Steel remarked, "Security and prosperity are inseparable," highlighting that the U.S.-Korea alliance has maintained peace on the Korean Peninsula for over 70 years, which has been the foundation for the economic miracle along the Han River. She also asserted that American companies operating in Korea should compete in a fair environment, stating that mutual understanding is the starting point for this.
Additionally, Steel referenced the Korean War, stating, "The economies and cultures of our two nations are closely intertwined. We are not just a security alliance but also indispensable economic partners." She concluded with a call to move forward together, saying, "Let’s grow together, not just go together."
* This article has been translated by AI.
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