Meeting at the National Assembly on the 10th
Request for a Stable Investment Environment
The American Chamber of Commerce in Korea (AMCHAM) announced on the 10th that it met with National Assembly Speaker Woo Won-shik at the National Assembly to discuss key measures to promote economic growth and strengthen Korea-U.S. cooperation in 2025.
James Kim, AMCHAM Chairman and CEO, along with representatives from major member companies including Coupang, Delta Air Lines, ExxonMobil Korea, Korea GM (GM), and UL Solutions, emphasized the importance of establishing Korea as a hub for global companies in the Asia-Pacific region and requested Speaker Woo to provide a stable investment environment.
Chairman James Kim stated, "Although some uncertainties exist due to the current political situation, AMCHAM has continuously strived to separate business from politics and has consistently emphasized the importance of business continuity. We have been communicating not only within the AMCHAM community but also with foreign media to promote the long-term investment attractiveness of the Korean economy. We firmly believe in Korea's resilience."
James Kim, Chairman and CEO of AmCham (right), and Woo Won-shik, Speaker of the National Assembly, are taking a commemorative photo after meeting at the National Assembly on the 10th. AmCham
He added, "Next week, AMCHAM plans to visit Washington D.C. to meet with U.S. government stakeholders to emphasize the need to further strengthen Korea-U.S. industrial cooperation in key sectors. We will highlight the economic contributions brought by Korea's record-high U.S. investments and how the trade relationship between the two countries well reflects this partnership. To address concerns related to U.S. tariffs, it is crucial for the Korean government to demonstrate strong commitment to regulatory easing and economic revitalization measures," he emphasized.
In addition, AMCHAM stressed the importance of a stable political landscape and regulatory environment to attract global corporate investment and achieve sustainable economic growth, underscoring the need to enhance labor market flexibility and regulatory reform. They also evaluated that Speaker Woo’s leadership is essential in creating a predictable business environment and establishing Korea as a global financial and supply chain hub.
In response, National Assembly Speaker Woo Won-shik said, "I would appreciate it if AMCHAM could widely inform not only the United States but also the international community that the people of the Republic of Korea, the National Assembly, and the business community are united in doing their best to overcome the crisis." He added, "I look forward to AMCHAM fully demonstrating its vision to serve as a bridge connecting trade and economy between Korea and the U.S., helping Korea to leap forward as a more attractive investment destination and Asia’s top business hub."
He continued, "Please feel free to provide any policy proposals or advice needed for this purpose, and the National Assembly will listen carefully to your opinions and spare no support. I hope today’s meeting will be a very meaningful occasion that brightens the future of Korea-U.S. economic cooperation."
Meanwhile, AMCHAM plans to continue discussions on strengthening Korea-U.S. economic cooperation by meeting with People Power Party floor leader Kwon Seong-dong in the afternoon and with Democratic Party floor leader Park Chan-dae on January 13.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
