Gwangju Employers Federation
Announces Survey Results of Member Companies
The Gwangju Employers Federation announced on the 16th that it has closely analyzed the results of a recent survey conducted among its member companies to listen to difficulties related to strengthening Korea-US economic cooperation, and plans to share these findings with its members.
According to the survey, which was conducted over five days from June 9 among member companies, those engaged in economic activities in the US market?such as exports or establishing local subsidiaries?identified trade and tariff barriers, lack of information and networks, and issues related to personnel and visas as their greatest challenges.
This survey was conducted with the aim of promoting economic cooperation between Korea and the United States, and to understand the current status and challenges faced by member companies that have already entered or are planning to enter the US market. Member companies from a variety of industries, including manufacturing, IT, and services, participated in the survey.
The responding companies most frequently cited the following three issues as their main difficulties in entering and cooperating in the US market.
First, they pointed out that US trade policies and high tariffs are major obstacles for Korean companies seeking to enter and secure competitiveness in the US market. In particular, the recent strengthening of protectionist policies is acting as a factor that increases uncertainty for businesses.
Next, the respondents noted that accurate and timely information about the US market, as well as securing networks to identify local partners, are essential for successful market entry. However, many companies are missing out on opportunities due to a lack of related infrastructure.
Lastly, securing highly skilled professionals needed for business expansion in the US and the difficulties involved in obtaining visas are also significant problems faced by companies. In particular, the complexity and lengthy process of issuing visas for skilled professionals was cited as having a negative impact on business operations.
Based on these results, the Gwangju Employers Federation plans to propose to the government and relevant organizations the establishment of concrete support measures to address these difficulties and further strengthen Korea-US economic cooperation.
Yang Jinseok, Chairman of the Federation, stated, "Through this survey, we were able to clearly identify the practical difficulties our member companies face in the US market," and added, "We will actively promote relevant policy proposals and support projects so that these issues can be practically resolved, thereby pursuing both qualitative and quantitative growth in Korea-US economic cooperation."
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