Katherine Tai, U.S. Trade Representative, Discusses Economic Cooperation Plans with Delegation of Major Korean Companies

Senior Executives from Samsung Electronics, Hyundai Motor, LG Energy Solution, and Other Major Corporations Attend

Guests including Katherine Tai, U.S. Trade Representative (fifth from the left in the front row), Huh Chang-soo, Chairman of the Federation of Korean Industries (fourth from the left in the front row), James Kim, Chairman and CEO of AmCham Korea (sixth from the left in the front row), and Christopher Del Corso, Charg? d'Affaires of the U.S. Embassy in Korea (third from the left in the front row), are taking a commemorative photo at the "Reception Hosted for Katherine Tai, U.S. Trade Representative" held on the 20th at the Four Seasons Hotel.
[Photo by Federation of Korean Industries]

[Asia Economy Reporter Kim Heung-soon] Katherine Tai, the United States Trade Representative (USTR), who is visiting Korea, met with representatives of major Korean companies on the afternoon of the 20th at the Four Seasons Hotel in Seoul to discuss ways to strengthen economic cooperation and relations between Korea and the United States.

The meeting was held in the form of a 'special reception' and was jointly hosted by the Federation of Korean Industries (FKI), the U.S. Embassy in Korea, and the American Chamber of Commerce in Korea (AMCHAM).

The FKI explained, "This event was promoted to foster an atmosphere for mutually beneficial industrial cooperation between the two countries and to strengthen relations for the smooth resolution of future trade issues."

This visit by Representative Tai is part of her first Asia tour as USTR. The FKI introduced that she emphasized the United States' strong commitment to strengthening a mutually beneficial relationship and the vision of the Biden-Harris administration to seek the Indo-Pacific Economic Framework.

Senior executives from major domestic companies such as Samsung Electronics, Hyundai Motor, LG Energy Solution, SK On, GS Global, Hanwha Solutions, CJ Logistics, Hyosung, DB HiTek, and Samyang attended the meeting. Huh Chang-soo, chairman of the FKI, and James Kim, chairman of AMCHAM, were also present. The business delegations from both countries actively exchanged meaningful opinions on the Korea-U.S. economic partnership and ways to strengthen cooperation between the two countries in the future, the FKI added.

James Kim, chairman and CEO of AMCHAM, emphasized, "The United States is Korea's number one trading partner and a very important partner culturally and militarily." He added, "Representative Tai's leadership and capabilities are indispensable for the economic cooperation and development between Korea and the U.S., and AMCHAM will continue to provide full support to Representative Tai, USTR, and the U.S. Embassy." He further stated, "We will do our best to play a strong supporting role by mobilizing various means such as government support and market entry programs."

Huh Chang-soo, chairman of the FKI, evaluated, "The two countries have overcome difficult times through the Korea-U.S. alliance and demonstrated the sincerity of the steel-strong Korea-U.S. alliance through cooperation even during the past two years of the pandemic." He emphasized, "At a time of great economic uncertainty due to COVID-19, cooperation between countries sharing common values is even more important," and added, "The two countries must work together to create a fair global business environment and generate synergy for global prosperity through cooperation in advanced industries."