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Ex-White
House chief of staff optimistic over Korea’s US investment
Mulvaney warns US protectionism will
persist beyond Trump era
By Lee Min-hyung, The Korea Times - Former
acting White House Chief of Staff Mick Mulvaney said he is “highly optimistic”
about Korean companies’ large-scale investment in the United States, noting
that Washington will likely continue its protectionist policies even after the
Donald Trump administration.
Mulvaney served from 2019 to 2020,
during Trump’s first administration. He also previously worked as director of
the Office of Management and Budget and U.S. Special Envoy for Northern
Ireland.
In a special luncheon hosted Thursday by
the American Chamber of Commerce in Korea (AMCHAM), he confirmed his high
confidence in Korean firms and their investment drive in the U.S., saying it
was in line with Trump’s "America First" policies.
“Trump understands the importance of
having direct foreign investment in the U.S., and Korean companies are doing a
really good job in the U.S.,” Mulvaney said during the event.
“The relationship (between Korea and the
U.S.) is really, really good.”
His remarks came as Korean companies
increased investments in the U.S. after Trump took office for the second time
in January 2025, with Hyundai, Samsung and LG ramping up efforts to minimize
tariff shocks and achieve sustainable growth in the world’s largest economy.
“What we are seeing is actually part of
a larger trend and will continue beyond Trump, and in fact may well continue,
regardless of the outcome of the next presidential election,” Mulvaney said.
He went on to speak highly of the brand
recognition being achieved by Korean companies, saying that the country's
products had "become part of the culture" in the U.S.
He also expressed hope that the U.S.
will speed up labor deregulation.
“Donald Trump has not been a politician
his whole life, and he used to be a real estate developer and struggled with
permitting and labor,” he said. “Trump still remembers that and wants to try
and fix that, so generally speaking, I am very optimistic.”
Mulvaney discussed Korea’s growing
strategic role as a key economic partner within the evolving U.S. policy
landscape and shared his insights into the second Trump administration’s
policymaking process, strategic priorities and leadership dynamics during the
luncheon.
“At a time of heightened geopolitical
uncertainty and rapidly shifting economic dynamics, the latest dialogue offered
valuable firsthand insight into the evolution of ‘America First,’ the future
direction of U.S. policy, and what these developments mean for Korea, the
broader alliance and the global business community,” Kim said.
