"‘Bridge Between Government and Businesses’ Gu Ja-yeol, Chairman of KITA, Holds Meeting with Resident Companies in New York"

[Asia Economy New York=Special Correspondent Joselgina] "We will do our best to serve as a bridge between the government and companies in trade, commerce, and supply chain sectors."

On the 21st (local time), Koo Ja-yeol, Chairman of the Korea International Trade Association (KITA), checked industry difficulties at a meeting held in New York, USA, with North America-based companies and support organizations, and made this statement.

Chairman Koo said, "This year, employment by Korean companies based in the U.S. has exceeded 140,000, and especially in New York and New Jersey alone, more than 10,000 people are employed," adding, "I truly feel that the status of Korean companies is rising higher than ever."

The meeting was also attended by the KITA chairpersons from key Korea-U.S. cooperative industries such as Exicon (semiconductors), Meta Biomed (bio), and Infac Korea (auto parts). Among the resident companies were 12 firms including POSCO International, POSCO America, Hanwha International, LG Electronics, and Samsung C&T, along with six support organizations including the Consulate General in New York, KOTRA, and the Korea Trade Insurance Corporation.

Participants cited labor shortages and logistics difficulties as major challenges following the pandemic (global outbreak). They also expressed hope that the meeting would serve as an opportunity to open the way for expanding investment in the U.S., technological cooperation, and stabilizing supply chains for Korean companies.

Meanwhile, Chairman Koo will visit Washington D.C. until the 24th following his visit to New York. He plans to actively convey industry concerns during visits to the U.S. administration, Congress, and think tanks.