"Uncertainty Eased... Positive Signal for Exports and Investment"
Comprehensive Agreement in Future Industries Such as AI Welcomed
The venture industry has welcomed the comprehensive agreement reached between South Korea and the United States at the Asia-Pacific Economic Cooperation (APEC) summit, which includes an agreement on the details of tariff negotiations and the strengthening of cooperation in artificial intelligence (AI) and next-generation technologies.
On October 30, the Korea Venture Business Association issued a statement saying, "The agreement reached with the United States, the largest export market for venture companies, is expected to resolve long-standing trade uncertainties and inject new momentum into the expansion of domestic venture companies into the U.S. market, increased investment, and improved business performance."
The association added, "In particular, with the reduction of tariffs on automobiles and parts to 15 percent, the implementation of $350 billion in investment in the United States, and the parallel advancement of technological cooperation in future industries such as AI, next-generation communications, biotechnology, and space, we expect that venture companies with innovative technologies will see expanded opportunities for global commercialization and overseas expansion."
According to a survey conducted at the end of last year, 65 percent of venture companies expressed concerns about changes in trade and commerce policies ahead of the launch of the second Trump administration. It is expected that this agreement will help ease such uncertainties.
The association stated, "We would like to thank the government and trade authorities for their efforts in reaching this agreement," and added, "The venture industry will do its utmost to expand into the U.S. market and promote technological exchange in advanced industries such as AI, semiconductors, and digital services, taking this agreement as an opportunity."
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