Meeting Wall Street Powerhouses Again, Lee Says: "You’ll Regret Not Investing in Korea Sooner"

Lee Hosts 'Republic of Korea Investment Summit 2026' in New York, Returning After One Year
Memory Production Capacity to Be Doubled in Five Years
"Toward Leadership, Not Just Catching Up"
Major Leap in Advanced Industries with Three Mega Pr

President Jae-myung Lee, currently visiting New York, USA, to attend the United Nations General Assembly, stated on the 23rd (local time) that the Korean economy is demonstrating strong resilience and growth potential even amid global trade and geopolitical uncertainties. He announced a significant expansion of advanced industry investments centered on semiconductors, physical AI, and AI data centers. Over the next five years, the plan is to double memory production capacity and establish a new Future Response Fund, while aiming to transform Korea into a market where global capital can invest freely through capital and foreign exchange market reforms.

He also revealed that he had discussed cooperation in the shipbuilding sector with U.S. President Donald Trump the previous day, making it clear that the Korea-U.S. alliance would be expanded into an industrial alliance encompassing technology, innovation, and economic security.

President Jae-myung Lee is speaking at the 'Republic of Korea Investment Summit 2026' held at a hotel in New York, USA, on the 23rd (local time). From the left, Timothy Geithner, Chairman of Warburg Pincus; Larry Fink, Chairman of BlackRock; President Jae-myung Lee; Jane Fraser, CEO of Citigroup; Emmanuel Roman, CEO of Pimco. September 23, 2026, Yonhap News.

In his opening remarks at the 'Republic of Korea Investment Summit 2026' held in New York, President Lee stated, "The Korean economy is moving toward a new milestone," and added, "Even in the midst of upheaval in the global economic order, the Korean economy is demonstrating very strong resilience and considerable future growth potential." As he did last year, President Lee organized a meeting this year to engage with major figures on Wall Street.

Citing recent export and growth rate forecasts, President Lee said, "Monthly exports reached approximately 100 billion dollars for the first time ever in June of this year," and added, "Annual exports, too, may reach the 1 trillion dollar level, ranking us among the world’s top five." He noted that global institutions have revised Korea’s projected economic growth rate for this year to the high 3% range, and projected next year's rate to be in the high 2% range, highlighting that "the forecasts have risen significantly compared to earlier in the year."

Additionally, President Lee introduced three major “mega projects” focused on semiconductors, physical AI, and AI data centers, and explained that seven “SEED projects” are also being pursued in parallel to foster next-generation growth engines. In the semiconductor sector, he declared, "We will expand our production bases to double memory production capacity within the next five years," and emphasized, "We are developing a core AI supply chain robust enough to withstand any shocks." He further stated, "We aim not to be a fast follower, but a leading country that pioneers new technologies and markets by linking everything from R&D to commercialization, mass production, and exports."

Regarding the chronic undervaluation in the Korean stock market, known as the "Korea Discount," he assessed that this is being overcome. President Lee stated, "In the past, people may have thought 'the Korean stock market is always undervalued,' but now we believe we are moving past that phase," adding, "Through further improvement, we will be able to achieve a much better and more appropriate valuation in the future."

He pledged to continue evolving the government's approach to industrial support. The profits from the boom in AI and semiconductors will be reinvested in key infrastructure and talent development in advanced industries, and a new Future Response Fund will be established to provide stable support. This reflects a determination to move beyond an investment structure vulnerable to fluctuations in the economy or tax revenue conditions.

President Lee also reiterated his commitment to capital and foreign exchange market reforms to attract overseas investors. He introduced three amendments to the Commercial Act which have established a duty of loyalty for directors toward shareholders and a principle of retiring treasury shares, stating, "We are carrying out plans to further enhance shareholder value." He announced that the foreign exchange market will be shifted to a 24-hour trading system, allowing foreign investors to freely trade and settle transactions in Korean won in major financial market time zones such as London and New York, thereby improving investment accessibility. President Lee stated, "We will continue our capital and foreign exchange market reforms to lead changes that global investors can palpably feel."

On Korea-U.S. economic cooperation, he declared his intent to expand the existing security alliance to a comprehensive economic security alliance covering both advanced industry and supply chains. President Lee said, "The evolution of the Korea-U.S. alliance into a future-oriented partnership is the foundation for our shared prosperity," and emphasized, "U.S. original technologies and capital, combined with Korea's manufacturing and supply capabilities, are connecting the two countries' advanced industries and supply chains more closely than ever." He cited investments such as Samsung's in Texas, SK hynix’s in Indiana, Hyundai Motor’s in Georgia, and Samsung Biologics’ in Maryland as representative examples, and projected that cooperation in shipbuilding and defense industries will also become more concrete.

President Lee specifically noted, "Last night, I had a wide-ranging conversation with President Trump, including on cooperation in the shipbuilding sector such as the construction of naval vessels," and expressed hope that "more tangible results will be achieved going forward." President Lee and President Trump held a surprise summit the previous day and discussed various bilateral issues, including progress in strategic investment projects between Korea and the U.S.

President Lee Jae-myung is taking a commemorative photo with attendees before the 'Republic of Korea Investment Summit 2026' held at a hotel in New York, USA, on the 23rd (local time).

The event was attended by Jenny Johnson, CEO of Franklin Templeton; Emmanuel Roman, CEO of PIMCO; Jane Fraser, CEO of Citigroup; Larry Fink, Chairman of BlackRock; Timothy Geithner, Chairman of Warburg Pincus; as well as John Lim, President of Samsung Bio; Sung Kim, President of Hyundai Motor Group; Yoo Jung-jun, Vice Chairman of SK; Hyun Shinkyun, President of LG CNS; Jeong Inseop, President of Hanwha Ocean; Song Yongjin, President of Doosan Enerbility; and Kim Byunghoon, CEO of APR. 2026.9.23 Yonhap News Agency

Meanwhile, President Lee once again called on global investors to make proactive investments in Korea. Referring to his remarks last September about the potential for Korea’s stock market to be re-evaluated, he said, "I can say with near certainty that if you wait for a long time to invest in Korea, you’ll regret not having done so sooner," and asked, "Please participate as investors in Korea’s growth and leap forward. I urge you to engage in bold discussions and decisions today."

Attending the event were John Lim, President of Samsung Bio; Yoo Jung-jun, Vice Chairman of SK; Sung Kim, President of Hyundai Motor Group; Hyun Shinkyun, President of LG CNS; Jeong Inseop, President of Hanwha Ocean; Song Yongjin, President of Doosan Enerbility; Kim Byunghoon, CEO of APR; as well as Deputy Prime Minister for Economic Affairs Lee Hyungil and National Security Chief Wi Sungrak. On the U.S. side, participants included Larry Fink, CEO of BlackRock; Jane Fraser, Chair of the Board and CEO of Citigroup; Timothy Geithner, Chairman of Warburg Pincus; Emmanuel Roman, CEO of PIMCO; Jenny Johnson, CEO of Franklin Templeton; John Gray, President and COO of Blackstone; Bruce Flatt, CEO of Brookfield; Shemara Wikramanayake, CEO and Managing Director of Macquarie; and Michael Arougheti, CEO of Ares.

This content was produced with the assistance of AI translation services.