By Kang Seung-woo



Korean companies are ready to pitch their investment plans in the United States to help ease growing trade pressures in time for President Moon Jae-in's summit with U.S. President Donald Trump.



Moon is scheduled to fly to Washington, D.C., Wednesday, on a five-day visit and hold his first summit with Trump the next day.



Along with thorny diplomatic and security issues, bilateral trade matters including the Korea-U.S. free trade agreement (KORUS FTA) are expected to be high on the agenda during the summit. Trump hopes to revise the trade deal due to a U.S. trade deficit with Korea.



In efforts to ease Trump's protectionist moves, 52 business leaders are expected to unveil their big investments in the U.S.



The state-run Korea Gas Corp. (KOGAS) announced Monday that it will begin receiving U.S. shale gas next month.



It signed a deal with Houston-based Cheniere Energy in 2012 to bring in 2.8 million tons of LNG annually for 20 years starting this year.



"This long-term deal with Cheniere Energy will contribute significantly to improving the trade balance between the U.S. and Korea. Plus, the destination-free U.S. LNG will greatly increase flexibility and efficiency in the global LNG market," said KOGAS President Lee Seung-hoon, who will join the delegation.



KOGAS also said it may import additional shale gas from the U.S.



Expectations are high that Samsung Electronics will announce its plans to build a long-awaited home appliance factory in the U.S. during Moon's trip.



According to multiple reports, the global tech giant is in talks to invest 300 million dollars (340 billion won) for a new manufacturing plant in South Carolina to create 500 jobs there.



Since Trump's inauguration in January, eyes have been on Samsung with regard to its investments in the U.S. Trump even sent out a thank-you note on Twitter in February in response to a report about Samsung's U.S. investments.



However, Samsung said it is still considering building a factory in the U.S. without confirming any details.



Earlier this year, Samsung's cross-city rival LG Electronics announced its plans to construct a $250 million washing machine plant in Tennessee, a project that will create at least 600 full-time jobs.



"The planned U.S. manufacturing facilities lead to higher personnel expenses, but Korean firms would be able to offset the higher costs with benefits in tariffs and logistics," an official of the electronics industry said.



Early this year, Hyundai Motor Group came up with a $3.1 billion investment plan in the U.S. for the next five years in the wake of Trump's threats of higher levies on car imports from Mexico. The motor group owns both Hyundai Motor and Kia Motors.



Such investment plans are coming after Trump threatened to slap a heavy tax on goods from Mexico.



Those companies operate their own factories in Mexico and can export their goods to the U.S. without having to pay taxes based on the North American Free Trade Agreement (NAFTA). But the Trump administration has vowed to renegotiate the trade deal.











