U.S. Economic Changes

[Anchor Lead]

The election of Donald Trump as U.S. president has prompted Korean companies to react, as one of Trump's campaign pledges was to step up trade protectionism. However, Korean businesses will likely see more opportunities in the U.S., where the infrastructure construction market is expected to grow.

[Pkg]

A 93-year-old bridge in the U.S. state of Arkansas is being demolished. There is a countless number of aged bridges, railways and ports in the U.S. that need to be rebuilt. That's why Donald Trump has promised to invest over a trillion dollars in the form of social overhead capital. But the U.S. government cannot afford to make such an investment due to a fiscal deficit. This could be a valuable opportunity for Korean construction companies.

[Soundbite] Kim Un-jung(International Contractors Association of Korea) : "It's necessary to advance into the U.S. market through strategic alliances with local and foreign businesses as well as M&As with local companies."

Trump's pledge to promote imports of foreign pharmaceuticals to the U.S. can also present a nice business opportunity to Korean pharmaceutical companies that offer competitive prices.

[Soundbite] Yu Byoung-gyu(Korea Inst. for Industrial Economics & Trade) : "One of the solutions is to enhance the competitiveness of Korean products and secure a competitive edge in terms of exports."

At the 28th Korea-U.S. Business Council held on November 10th, business leaders from both nations adopted a joint statement supporting the Korea-U.S. free trade deal. Experts say that the more cooperative the business models from Korea and the United States, the more stepping stones there will be for the Trump administration to lay for the Korean economy.