South Korea’s Ministry of Trade, Industry and Energy reported that Jeong In Kyu, head of the Trade Negotiation Headquarters, met with a delegation from the American Chamber of Commerce in Korea (AMCHAM) on Tuesday at the Grand Hyatt Hotel in Seoul. They discussed the impacts of rapid changes in the global trade landscape and strategies for attracting foreign investment.
The meeting focused on increasing foreign investment, positioning South Korea as a business hub in Asia, and enhancing South Korea-U.S. trade cooperation.
James Kim, AMCHAM’s chairman, emphasized U.S. companies’ keen interest in the South Korean market.
He suggested that for South Korea to emerge as a key player in the Asia-Pacific region, it should capitalize on the opportunities presented by recent structural shifts in the global economy, such as supply chain restructuring and economic bloc formation. This, he noted, would require regulatory reforms in areas including the labor market, tax administration, and the digital economy.
In response, Jeong assured that despite recent South Korean developments, government policies would proceed as scheduled, allowing foreign-invested companies to focus on their economic activities without concern.