Martial Arts, US House of Representatives China Special Committee Members Invitation Meeting

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Yoon Jin-sik, Chairman, Requests Consideration to Prevent Disadvantages for Korean Companies in China Policy Meeting

The Korea International Trade Association (KITA) held a meeting with members of the U.S. House China Special Committee, requesting consideration to ensure that Korean companies do not face disadvantages in their business operations.

Korea International Trade Association Chairman Yoon Jin-sik is delivering a welcome speech at the networking meeting with invited U.S. House Representatives held on the 29th of last month at the Grand Hyatt Hotel in Yongsan-gu, Seoul.
[Photo by Korea International Trade Association]

KITA announced on the 1st that on the 29th of last month, it hosted a 'Networking Meeting with U.S. House Representatives' at the Grand Hyatt Hotel in Yongsan-gu, Seoul, inviting John Moolena (Republican, Michigan), chairman of the U.S. House China Special Committee, and its members. The China Special Committee was established by the U.S. House of Representatives in January last year to address strategic competition with China.

The meeting was arranged to gauge the direction of U.S. policy toward China about two months before the U.S. presidential election and to share the positions of Korean companies regarding policies to be pursued by Congress thereafter.

Attendees included KITA Chairman Yoon Jin-sik, Korea Employers Federation Chairman Sohn Kyung-shik, Trade Negotiation Director General Jeong In-kyo of the Ministry of Trade, Industry and Energy, as well as executives from major companies operating in the U.S. such as SK Hynix, LG Energy Solution, Hanwha Aerospace, and Dongwon Industries. On the U.S. side, six members of the China Special Committee attended, including Philip Goldberg, U.S. Ambassador to Korea, Chairman Moolena, Ro Khanna (Democrat, California), Ben Cline (Republican, Virginia), Thomas Suozzi (Democrat, New York), Brian Babin (Republican, Texas), and Barry Loudermilk (Republican, Georgia).

In his welcoming remarks, Chairman Yoon stated, "The two countries are core allies sharing values of liberal democracy and market economy beyond mere economic cooperation," and added, "We ask for special and meticulous support and attention to ensure that Korean companies do not unintentionally suffer disadvantages during the legislative process in the U.S. Congress concerning China-related industrial policy, technology, and investment amid the future global supply chain restructuring."

Chairman Yoon also emphasized the importance of peace in the East Asian region and appealed for support of the 'Korean Companion Act,' a bill to establish a dedicated visa quota for Korean professionals.

Chairman Moolena responded, "Cooperation among allied countries is crucial to maintaining the democracy and market economy order that has enabled today's economic prosperity," and added, "We will continue to make steady efforts to develop the relationship between Korea and the U.S."