Howard Lutnick, U.S. Secretary of Commerce, stated on the 15th (local time) that Korea Zinc’s decision to invest USD 7.432 billion (about KRW 10.95 trillion) to build a large-scale smelter in the state of Tennessee is “a huge win for America. This is how we win.”

In a statement posted on his X account that day, he said, “U.S. President Donald Trump has concluded a critical minerals deal to strengthen our national security, rebuild our industrial base, and end reliance on foreign supply chains.”

He continued, “We have announced, together with Korea Zinc, a large-scale investment to build in Tennessee a state-of-the-art critical minerals smelting and processing facility that will produce 540,000 tons of essential materials annually in the United States,” and emphasized, “These minerals will power the most important technologies of the future, including defense systems, semiconductors, artificial intelligence (AI), quantum computing, automobiles, data centers, and advanced manufacturing.”

Lutnick further stated, “Gallium, germanium, indium, antimony, copper, silver, gold, zinc, and more will all be produced on U.S. soil, supporting everything from fighter jets and satellites to semiconductor fabrication plants and the power grid,” adding, “It means making it here, securing our supply chains, creating great jobs, and keeping the United States a leader in industry and technology.”

He then added, “Congratulations to President Trump on yet another huge victory for America.” Tennessee is a Republican stronghold with strong support for Trump. Among Korean companies, LG Electronics operates a home appliance plant in Clarksville.

Meanwhile, Korea Zinc held a board of directors meeting on the 15th, Korea time, and approved the investment for the construction of the Tennessee smelter. The company later announced in a press release that it “has entered into a strategic partnership with the U.S. Department of Defense (War Department) and the Department of Commerce and will proceed with a joint investment to build a large-scale smelter on a 650,000㎡ site in Clarksville, Tennessee.”

Popular News