Michelle Steel, the nominee for United States Ambassador to South Korea, said U.S. companies must receive equal treatment while operating in South Korea [1].
Steel's remarks signal a potential shift toward more aggressive economic diplomacy, focusing on the protection of U.S. commercial interests and the scrutiny of foreign direct investment within the strategic alliance.
During a hearing before the U.S. Senate Foreign Relations Committee in Washington, D.C., Steel said Coupang is an example of a U.S. firm that should not face discrimination in the Korean market [1], [2]. She said U.S. companies like Coupang must not be discriminated against in Korea [2].
Beyond trade and commerce, the nominee emphasized the necessity of a reinforced strategic partnership between the U.S., South Korea, and Japan [1], [2]. This trilateral cooperation is viewed as essential for maintaining regional stability and addressing the humanitarian crisis in North Korea. Steel said everyone is well aware of how many people are suffering in North Korea [2].
Steel also pledged to closely review South Korea's investment plans toward the United States [1], [2]. This commitment suggests that the U.S. may seek greater transparency or more favorable terms regarding how Korean capital is deployed within the U.S. economy.
While discussing the challenges of diplomacy and the path forward, Steel used the Korean proverb, "Pleasure comes after pain," to describe the process of achieving long-term goals [2].
“U.S. companies like Coupang must not be discriminated against in Korea”
Steel's focus on 'equal treatment' and the review of investment plans suggests a transactional approach to the U.S.-South Korea relationship. By linking economic fairness for U.S. firms to the broader strategic alliance, the nominee indicates that commercial reciprocity may become a primary pillar of U.S. diplomatic engagement in Seoul, alongside traditional security cooperation with Japan.
