for example, during the pandemic what happened was all of a sudden everybody started to learn the phrase supply chain. a year ago no one knew what the hell anybody was talking about when you said supply chain but now they all know, and we lost access to these these semiconductors in which new automobiles in the united states need 30,000 of them just to build a new automobile and we didn t have them. so we started investing here and what happened was when we encouraged the investment through the chips and science act and now we have an enormous investment in the united states, over $200 billion in long-term investment in semiconductors. we are rebuilding the economy of the united states with those semiconductors. it s not designed to hurt china. the only thing i did say with regard to china, there are certain extremely sophisticated semiconductors that we have built that are useful for nuclear and or other weapons systems. those we are not selling. we are not exporting to ch
future for them. i think that s what this is about. so we view south korea s economic growth as a benefit to the united states as well as freedom around the world. thank you all so very much. appreciate it. distinguished guests, please remain in your seats until the official delegations have departed. you ve been watching president biden with south korea s president yoon taking questions from reporters at the white house after holding significant talks over relations between the two countries and announcing a see new agreement focused on deterring north korea s nuclear program. president biden answering important questions about that and also about his own political prospects one day after announcing that he was running for reelection. president biden asked directly about his age. he would be 86 years old if he left the white house after a second term. the president saying that number
question. translator: and from financial news. my question goes to both of you. my first one goes to president yoon first. during the state visit you ve said that the alliance has strengthened to cutting edge industries, to cutting edge science and also investments in businesses have been some of the outcomes these are some positives, however, to each individual of the public how will this have a long-term impact? what will be the direct benefits felt? and to president biden, in celebration of the 70th anniversary of the rok-u.s. alliance oi know that the atmosphere is very positive, however, korean businesses, especially because of the chips act and the ira are on edge. what message can you spend to the korean companies to really
should be when it comes to this autocracy versus democracy battle that he s talking about and this meeting today with south korea is a part of that. this isn t just about north korea, it s about what iran and china and russia are looking at as they see what happens today at the white house. i think there were three sort of really big issues that jumped out at me. first, before he talked about nuclear weapons, the president talked about investments in semiconductors, in artificial intelligence. to say that the relationship with south korea was so much deeper than just the north korea issue. he let president yoon describe in detail this arrangement about consultation on response to north korea. that could be because it s more important politically to president yoon to be able to do that and to be able to back away from his own suggestion earlier this year that south korea might try to get its own nuclear weapons, which, by the way, it
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