BIDEN WELCOMES SK'S INVESTMENT PLAN

[Anchor Lead]

U.S. President Joe Biden has held virtual talks with SK Group chairman Chey Tae-won. Biden thanked a massive investment plan announced by the Korean conglomerate, calling it "historic."

[Pkg]

President Biden, who has tested positive for COVID-19, held a virtual meeting with SK Group Chairman Chey Tae-won who visited the White House. During the talks, Chey announced an additional 29 trillion won investment to an earlier 9 trillion won investment plan in the US. This will cover areas of semiconductors, batteries and biotechnology.

[Soundbite] Chey Tae-won(Chair, SK Group)

Chey was scheduled to meet Biden face-to-face but the meeting had to switch to a video conference after the US leader contracted Covid. Biden called SK's investment plan "historic" and“pathbreaking,”adding it will greatly contribute to creating jobs and growing America's manufacturing sector. He said the announcement is also proof that the U.S. is back to working with its allies and it was winning in the 21st century's high-tech competition. Biden also accentuated the fact that the investment came to the US and not China.

[Soundbite] Joe Biden(U.S. President)

The latest one-on-one is Biden's third meeting with a Korean conglomerate chief after he met with the leaders of Samsung and Hyundai during his visit to Korea in May. SK's investment plan is welcome news for Biden whose approval rating has been falling amid high inflation in the U.S.