Special Meeting Hosted by AmCham on the Afternoon of the 22nd
Lee Junseok, the presidential candidate of the Reform New Party, stated at a special meeting hosted by the American Chamber of Commerce in Korea (AmCham) at the Grand Hyatt Seoul Hotel on the afternoon of the 22nd, "As a campaign pledge for this presidential election, I have promised to implement a 'Regulatory Benchmarking System.' For example, in the field of cloud data industry, we will use the United States as the benchmark country, ensuring that regulations not present in the US will not exist in Korea either."
Lee Junseok, the presidential candidate of the Reform New Party, and James Kim, chairman of AmCham, are exchanging views at a special meeting held at the Grand Hyatt Hotel on the afternoon of the 22nd. Photo by AmCham
Lee attended the meeting at the invitation of AmCham and made these remarks in front of numerous leaders from major domestic and international companies. He emphasized that bold regulatory innovation is essential as a core strategy to revitalize Korea's industries. He went on to say, "I envision transforming Korea into an attractive investment destination and a country that people return to, rather than leave." He also expressed his confidence to AmCham, stating, "I believe you will be a good partner."
James Kim, chairman and CEO of AmCham, responded by pointing out, "Korea is currently facing significant political and economic challenges both domestically and internationally." He stressed, "This presidential election will be a crucial turning point for restoring political stability and laying the foundation for long-term economic growth." He also said, "With the upcoming Asia-Pacific Economic Cooperation (APEC) summit, now is a golden opportunity for Korea to showcase its technological prowess and leadership in innovation on the global stage." He added, "Lee Junseok's clear commitment to regulatory reform aligns with AmCham's longstanding efforts and direction to improve Korea's business environment."
The meeting was conducted in a discussion format, with Chairman Kim moderating a conversation with Lee. Lee shared a wide range of views on topics such as election strategies targeting centrist voters, the possibility of alliances with the conservative bloc, approaches to trade negotiations with the Trump administration in the United States, economic plans centered on 'small government' and regulatory reform, measures to enhance labor market flexibility to strengthen Korea's competitiveness in attracting global headquarters, solutions to Korea-specific regulations, and ways to expand Korea-US industrial cooperation in advanced sectors such as semiconductors, electric vehicles, and biotechnology. In particular, he presented strategic directions and policy visions for Korea to become the leading innovation hub in Asia.
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