FKI to Host Seminar Next Month Inviting Senior Officials from US Biden Administration

[Asia Economy Reporter Su-yeon Woo] The Federation of Korean Industries (FKI) plans to invite a senior official from the U.S. Biden administration as early as next month to hold a seminar. This is part of efforts to closely examine the foreign policy direction under the new administration following the regime change and to strengthen the network between Korea and the U.S.

On the 20th, Kim Bong-man, head of FKI's International Cooperation Office, said, "We plan to hold a seminar related to U.S. economic policy or North Korea policy around February to March," adding, "We are coordinating the senior Biden administration official to invite and the schedule for the seminar." The FKI also plans to visit the U.S. in the second half of the year to attend the annual Korea-U.S. Business Council meeting and hold talks with senior officials of the U.S. administration.

Heo Chang-soo, Former Chairman of the Federation of Korean Industries

Earlier, Huh Chang-soo, chairman of the FKI, sent a congratulatory letter to President-elect Joe Biden the day before. In the letter, Chairman Huh stated, "With this presidential inauguration, we expect the Korea-U.S. alliance to advance to a higher level," and added, "As Korea's leading economic organization that has operated the highest-level private economic cooperation channel between the two countries, we will continue to do our best to expand economic cooperation and promote friendship between Korea and the U.S."

The FKI's active engagement in exchanges between Korea and the U.S. political and governmental circles is because the Trump administration pursued an America-first policy, whereas President-elect Biden is expected to emphasize alliances and multilateralism.

Kim said, "The U.S. Chamber of Commerce, the FKI's counterpart, has a well-established network with the Biden administration, so the impact of the regime change will not be significant," adding, "Since Korean companies have expanded local investments and have considerable networks at the state government level, our government also needs to actively utilize this."