CEO and president of SK Innovation, and Jae Won Chey Executive Vice Chairman, congratulations also to the City of Commerce and the staff of the Georgia Department of Economic Development for all the hard work required to make this day possible. Your dedication has really paid off. Welcome too to Congressman Doug Collins and the fun job you’ve done in Washington over the past six years in promoting the economic viability of Georgia’s Ninth Congressional District and from President Trump and all the members of his administration.

Thank you Chairman Kim, and SK Innovation’s entire executive team for your commitment to the United States, to the great state of Georgia and the City of Commerce. Your selecting this location that has so many great automobile producers means that you will be able to take advantage of one of the fastest growing markets for electric vehicles in the world.

Last year there were 360,000 new electric vehicles sold in the United States, an increase of 80 percent in one year. Globally last year electric vehicle sales surged to more than 2 million units, and they’re projected to increase to almost 4 million in 2020. The automobile industry itself might be a mature market but that’s not the case with the electric vehicles. In fact similar technological transformation is occurring in virtually every industry sector.

You only have to look at SK’s operations from Telecom to semiconductors, to chemicals and energy to know that this global leader has embraced the new industrial dynamic, innovative products and the processes to make these products a revitalizing the U.S. economy, which is growing faster and creating more jobs than it has in decades before. SK is helping the United States become a truly competitive factor in this fast growing electric vehicle market. And you’re doing it right here in the United States, and this nearly 1.7 billion investment by SK Innovation represents Georgia’s largest single foreign investment project ever. I congratulate you on this, while you need to find someone to step up for 2 billion, so keep that momentum going.

The 2,000 direct jobs here will generate thousands of others in supply chains and services, not only in Georgia but throughout the country. And a big reason for Georgia’s economic success is the dedication your state has shown to workforce development with programs such as Georgia quick start and to the commitment you have made to your first great scientific and engineering universities.

The state of Georgia has had a longstanding commitment to higher education. Georgia was the first state in the country to grant, to charter a public university. Wesleyan College in Macon was the first in the world to grant degrees to women.

And SK’s investment also highlights the close ties that exist between the United States and the Republic of Korea. Our two nations have been standing proudly together for nearly 70 years as unwavering friends and as loyal allies. South Korea is America’s large, 6th largest trading partner in goods, with the total bilateral value of 131 billion dollars in 2018. That’s an all time high. South Korean firms have invested 51 billion dollars in projects in the United States, and those projects support nearly 52,000 U.S. jobs. This includes at least 75 Korean facilities in Georgia alone, and those employ more than 10,000 citizens of your state. We look forward to again welcome the members of the Georgia Economic Development Community as well as companies from Korea at a yearly Select USA Investment Summit to be held in Washington D.C. on June 10th through 12th. It’s the largest foreign direct investment gathering in the country every year. And once more to the leadership of SK Innovation, thank you for your commitment to the United States. On behalf of President term congratulations to SK Innovation, the state of Georgia and the people of Jackson County and the City of Commerce. It’s a privilege to be here with you today to celebrate this wonderful event. Thank you.