James Kim, AmCham Chairman Who Met Lee Jae-myung, Says "Korea Must Actively Support Foreign Business Investment"

AmCham Holds 'Lee Jae-myung Democratic Party Presidential Candidate Meeting'

James Kim, Chairman of the American Chamber of Commerce in Korea, is delivering a congratulatory speech at the Korea-U.S. Industrial Cooperation Conference held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on the 27th. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Hwang Yoon-joo] James Kim, Chairman of the American Chamber of Commerce in Korea (AMCHAM), requested Lee Jae-myung, the Democratic Party presidential candidate, to expand support for foreign companies investing in Korea amid the diversification of global supply chains.

AMCHAM announced on the 2nd that it held a "Special Meeting Inviting Presidential Candidate Lee Jae-myung" at the Conrad Hotel in Yeouido, Seoul.

At the meeting, Chairman James Kim said, "What we need is for the Korean government to actively support attracting foreign companies' research and development (R&D) investments," adding, "Now is the best time for the Korean government to do its best as other countries fiercely compete to attract foreign investment."

He also emphasized, "The United States and Korea share an inseparable relationship," and "More than 800 AMCHAM member companies create over 500,000 jobs in Korea."

Chairman James Kim noted, "Recently, the number of companies serving as representatives of Asia on the AMCHAM board has reached a record high," and said, "Amid the dynamic geopolitical changes in the region due to COVID-19, Korea is ready to emerge as a regional hub."

James Kim mentioned that Korea's economic and regional significance has grown among global companies. He explained, "Qualcomm, an AMCHAM member and representative of the United States, promoted President Kwon Oh-hyung to head of Asia-Pacific operations, and Inspire is opening the largest integrated resort in Korea, expected to create 12,000 new jobs," adding, "These two cases symbolize the expectations for Korea."

The Inspire Integrated Entertainment Resort is a project to build the largest integrated resort in Northeast Asia on the west side of Incheon Airport Terminal 2, in the 3rd International Business District. It is a core project of the Yeongjongdo integrated resort cluster strategy promoted by Incheon City, with Hanwha Construction having signed the main contract. Approximately 1.8 trillion KRW will be invested in the first phase of construction, with an opening scheduled for 2023.

James Kim also mentioned his third encounter with candidate Lee. He said, "The first meeting was when Lee, as mayor of Seongnam, met the CEO of Microsoft (MS) and discussed IT infrastructure and cloud," and "When Lee was governor of Gyeonggi Province, he invited the AMCHAM board members to the provincial office for a productive meeting."

He added, "AMCHAM hopes to attract overseas companies to Korea," and "AMCHAM member companies will strengthen Korea-US relations through trade and investment."