AMCHAM Korea

[News Article] What happens when China dominates tungsten supply: Almonty Industries [VIDEO]

[The Korea Times] Video by Lee Min-young, Kim Kang-min, Yun Da-been, Kim Bo-kyung This is the first episode of our new series in collaboration with the American Chamber of Commerce in Korea, where we will be taking an inside look into the world of business by exploring a wide range of critical decisions and business strategies faced by chief executives around the world.The Korea Times interviewed Lewis Black, CEO of global mining company Almonty Industries Inc. that owns the Sangdong mine in Gangwon Province, Korea, which was historically one of the largest tungsten mines in the world.Alfonse D'Amato who is a former U.S. senator from New York, and the founder of Park Strategies LLC, a public policy and business development firm also joined the interview. His son Daniel D'Amato is the co-founder of Almonty Industries Inc.Almontry Industries Inc. is is a global mining company specializing in tungsten mining and exploration. Its primary operations are in Spain, Portugal, and South Korea. Almonty is set to reopen the world's largest tungsten mine in Sangdong, Gangwon Province, Korea.Below is the full transcript of the interview with Lewis Black and senator Al D'Amato.Q. Lewis can you give us an overview of what Almonty Industries does?[Lewis]A. Well Almonty Industries is, we specialize specifically on the strategic metal of tungsten. We have five generations of expertise in its extraction and we own the longest running mine in the world in Portugal which has been running for 126 years and we account for roughly seven percent currently of outputs outside of China. This will increase to closer to 30 percent when South korea opens but the most important thing is tungsten's a very difficult metal to produce and we have a depth of knowledge that is unmatched and the industry accepts we are considered to be the best operators outside of China and one of the best operators in the world.Q. We all know that tungsten is a strategic medal but could you tell us how this resource is exactly being used and explain to us its importance in production and manufacturing?[Lewis]A. Well I mean for instance in South Korea, it's the largest consumer of tungsten per capita in the world because it's extensively used in the semiconductor business but it also is included in aerospace, in the car manufacturing, in medical and in defense and there's a little bit of it in just about everything that's in your life, from the the vibrator in your telephone to a guidance system on a satellite. You need very small amounts of it but without that little piece of tungsten the product is completely useless.[Senator]It is the strongest metal in the world. It's an alloy which is absolutely essential particularly in drilling for example. Drilling equipment you've got to have tungsten. In the defense of your nation, in the manufacturing of equipment where a high intensity heat is there. It is an alloy which is essential and unfortunately over the years, China has come to, in some cases, represent well over 80 percent of the world's production of of tungsten and it used this to its advantage in driving out competition so that if there was a tungsten mine in the western hemisphere, the Chinese would dump their product, lower the price and drive the mines out of business so there's never been any real competition. Lewis and my son have worked together over 10 years to bring Almonty to this position. Many people scoffed at it and now many people are looking and saying 'my gosh' because Almonty is on the verge of starting the reopening of this critical asset, critical to the world.Q. How big of an impact will this mine have on the global opportunity?[Lewis]A. This mine is very well respected through the entire industry because it is seen as the greatest. I think it's the best way to put it. It is seen as the ultimate mine in tungsten. It has the highest grade, it has 70 plus years of reserves. The Chinese are in many ways not terribly comfortable that this mine is going to reopen because it does have the ability to really take some of the strength of the Chinese dominance of this market away.[Senator]There is a very wonderful opportunity to turn to this mine which strategically is so important for South Korea because it can give it all of the tungsten that south korea needs and it can supply the western hemisphere and indeed the mine is so rich. We have contracts ready with some of the largest companies in the world which will guarantee that they're not going to be shut down with the Chinese dumping and lowering the price because they've entered into agreements that go into the future over the next 15 years and so what we can do is break that stranglehold that China has over the rest of the world.Q. Summarize for us what you see are the real benefits for the Korean economy, the Korean citizens and most importantly that region which is not that close to the metropolitan Seoul area.[Senator]A. The reopening of the Almonty Korea tungsten mine and Sangdong is a major infrastructure project for the community. We're going to be investing well over a hundred million dollars in this project, 80 million comprising direct capital expenditures related to the reopening.[Lewis]And initially there will be more than 200 people working for the sites as the mine expands and we also developed the molybdenum mine which is the other mine at the site as well. That'll double up the numbers. You're looking at generating tax revenues somewhere in the region of 150 million dollars over 10 years and in mining they say for every direct job there are six indirect jobs so you run into essentially full outputs you know into thousands of indirect jobs that will revitalize a town that in its day had 40,000 residents and now has just over 700 so you can see that this will have a profound effect on the town of Sangdong.Q. Speaking of tungsten supply, can you tell us about the challenges that come from the limited supply of tungsten metals as the world is heavily relying on China for these metals?[Lewis]A. To 85 percent of the world's output of tungsten comes from China and this really culminates in the 80s, the middle to late 80s where a lot of Chinese material hit the market. Prices collapsed and pretty much everyone went out of business. One or two survivors, but that was it. Those survivors are still with us. One we own in Portugal, the other one is in Austria which is owned by Sandvik but that's pretty much it that survived that blood bath in the late 80s and then of course we've seen subsequently very difficult to then open up minds because that knowledge all disappeared. It all vanished and it's a very difficult as I said before it's a very difficult metal to process.[Senator]And unfortunately the Sangdong mine located in South Korea, one of the greatest mines in the world became victim to the Chinese dumping because they couldn't sell their product, they couldn't compete so I guess it goes back to about 1992 when the government closed the Sangdong mine, a mine that had the greatest concentration of high quality tungsten. There's none that was better and it was closed down, it was closed down because they could not make sales because the Chinese, by dumping at prices that no one could compete with put them out of business. Now the world cannot afford to be held hostage by the Chinese government. Just cannot do it.Q. The U.S. is currently having a trade war with China and if most of the metal supply comes from China, the current U.S.-China trade war must be putting a huge strain on U.S. manufacturers so Senator, how do you see this ongoing trade war between the two countries and how do you assess the damages?[Senator]A. This is a strategic alloy which is necessary in so many areas, the medical area, the defense area, the manufacturing area, as we find more technological ways to go forward. We should be working in this cooperative way. What a great opportunity for South Korea to reinvigorate its economy to keep it growing, to keep it moving and not be held under the fear and dominance of the Chinese.Q. So you said that we shouldn't be held captive. So do you think U.S. manufacturing companies should find ways to reduce dependency on China?[Senator]A. Not only U.S. companies but companies throughout the western hemisphere as well. So much in terms of manufacturing, in other areas, health etc., the United States passed legislation which made it possible for the Chinese state enterprises to take political interference, media censorship, bifurcated internet situations and I think the pandemic has got certainly the American public waking up to the danger of creating monopolies that China will use to its advantage at the disadvantage of other countries. We can't afford to be held hostage whether it's tungsten or whether it's the creation of medical supplies and strategic areas. We just can't do it and this project will absolutely put South Korea on the map in terms of dealing with this problem of tungsten. It's a small problem but let me tell you, it touches many people's lives.Q. So more on the operation in Korea, Almonty is making a big move investing millions of dollars in developing the Sangdong mine so were there any challenges in funding this multi-million dollar project or could you tell us about other difficulties you have faced such as communicating the project with local residents?[Lewis]A. You know, it obviously took time to attract the type of lender we were looking for. We ended up with a lender who is considered to be one of the most conservative and maybe do one every 18 months, maybe. Most of the projects they do are essentially vast projects for major mining companies. They also build nuclear power stations, hydroelectric dams, car factories so KfW (Kreditanstalt fur Wiederaufbau) and currently KfW is bailing out the German economy so it's a very significant lender but they have a 100 track record of not having one default or one bankruptcy of any mine that they've supported so they're extremely cautious about who they choose to support and they were, like we were, very impressed with not just the project itself but the environment that it sits in the community and the availability of of good highly skilled people and the political support, both local, regional and central.Q. Korea has become a highly environmentally conscious country that is strongly dedicated to green growth. So how can an industry like mining which is traditionally known to be environmentally risky fit into Korea's green growth paradigm?[Lewis]A. Well, to be honest, Korea is not alone. We operate in Europe and Europe has, for many years, taken a very green view of how to operate and our lenders which is the German state bank KfW IPEX-Bank and obviously the Austrian government export credit bank OeKB, they have required this project be designed to what's called 'Equator Principles.' Equator principles are international standards that are far superior to current international standards for social and environmental activity and so we all generate no waste on surface. We'll generate no tailings on surface. Everything is essentially to be as little as low impact as possible and in fact our long-term goal because currently the energy from the platform to the mines is nuclear. It's from the local nuclear power station. There is no reason why we will not become carbon neutral. Ultimately all the equipment underground will be electric so in this day and age you have to learn to operate in an environmentally sensible and responsible way.Q. Can you walk us through what Almonty is ensuring with the workers so that they can ultimately be safe, happy and obviously well compensated?[Lewis]A. So in all of our projects we have an intrinsic link with the community. After all the community ultimately operates the mine and so we've always had a very long-standing relationship whether it be from sports centers to working with education, whether we're working on scholarships. Every community has different needs and we have to work with it.Q. Production, manufacturing industries have been hit hard by COVID-19 and of course mining operations must also have been experiencing disruptions and shutdowns so how is your company coping with the situation?[Lewis]A. The mines are relatively in rural areas so they're not in high density area so we have our isolation which has certainly served us well at this time. Our biggest issue has been actually shipping. Shipping has been significantly hit so our production has remained consistent and at normal levels but shipping times have increased by almost threefold so that's been more problematic for our customers but there's nothing we can do about this.Q. For U.S. citizens in the U.S., how do they view this project for America?[Senator]A. I think that the relationship that we have is in a good place. The development of this strategic material and make no mistake about, tungsten is a rare earth and it has become known now as critical throughout the world so this is our mutual interest. It is economically advantageous for the entire world to have a supply of critical materials that is not going to be used in a way to hurt other nations but rather to give other nations greater opportunity. So I see this mind as a critical element in strengthening that bond.

2020.09.07

[Webinar] Fireside Chat with Stephen Dunbar-Johnson, President, International of The New York Times …

September 3, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a virtual fireside chat on September 3 with Stephan Dunbar-Johnon, President, International of The New York Times Company. This fireside chat discussed The New York Time's relocation to Seoul, its business strategy for Asia and the dynamics shaping the global media landscape. About the SpeakerStephen Dunbar-Johnson, President, International of The New York Times CompanyStephen Dunbar-Johnson is the president, International of The New York Times Company. Dunbar-Johnson is responsible for the oversight and strategic development of the Times Company’s international businesses. Dunbar-Johnson was appointed president, International for The New York Times Company in October 2013 to lead the global expansion of the company.Prior to The Times, Dunbar-Johnson was publisher of the International Herald Tribune (I.H.T.), a position he assumed in January 2008. Before joining the I.H.T. in 1998, he held various business development roles in the United Kingdom, France and the United States over 12 years at The Financial Times. He was educated at Worth School and Kent University in the U.K. and has completed an executive management program at the Wharton School at the University of Pennsylvania and the Sulzberger Executive Leadership Program at the Columbia School of Journalism. Miss a Webinar?Please refer to the following link to find out more about AMCHAM webinar:https://youtu.be/PrxVWui8Auk

2020.09.03

[News Article] [CEO] 美·中 갈등 한국엔 기회…주한 외국기업 적극 끌어안아야

임기 4년차 제임스 김 암참 회장해외기업 위한 환경개선 시급클라우드 등 신산업규제 줄이고과중한 형사책임도 덜어줘야외국인 거주여건 향상도 필요韓 기업 美 사업기회 커져한미 기업 교류·진출 도울것 ? [매일경제] "미국과 중국이 갈등 관계를 보이면서 홍콩의 아시아 금융허브 지위가 흔들리는 것 등은 한국에 굉장한 기회다. 한국이 얼마나 훌륭한 투자 입지를 갖고 있는지 대외적으로 적극 알려야 할 최적의 타이밍이다."한국에 진출한 800여 개 미국 기업을 회원사로 두고 있는 주한미국상공회의소(AMCHAM·암참)의 제임스 김 회장은 미·중 무역 갈등이 고조되고 있는 상황에서 한국이 전략적인 정책을 펼 필요가 있다고 거침없이 조언했다. 장기적으로 미국과 중국 관계가 정상화하겠지만, 그 전에 한국이 발 빠르게 움직여야 한다는 얘기다. 중국 의존도를 낮추기 위해 홍콩 등에서 이탈하는 해외 기업들을 한국이 잡을 수 있는 절호의 기회라는 것이다.김 회장은 지난달 암참 상근회장 취임 3주년을 맞았다. 4년 차 임기를 시작한 그는 "지금이야말로 한국이 해외 기업들을 받아들이는 포용력을 높이고 기업 친화적 환경을 조성하는 전략을 펴기에 유리한 시기"라고 밝혔다. 그는 "최근 뉴욕타임스가 홍콩사무소 일부를 서울로 이전했는데, 이건 한국에 굉장한 기회"라면서 "한국이 얼마나 훌륭한 투자 입지를 갖고 있는지 대외적으로 알릴 수 있는 기회로 삼을 수 있을 것"이라고 했다.김 회장은 한국이 해외 기업 투자를 적극적으로 유치하는 것이 국내 일자리 창출 등 경제적 성과를 거둘 수 있을 뿐 아니라 여러 국가에 중국 의존도를 낮출 수 있는 기회라는 점을 강조했다. 코로나19가 확산된 이후 기업들에 무엇보다 중요해진 '공급망 다변화' 측면에서도 효과적이라는 것이다.김 회장은 중국 시장 개방에 따른 광물 가격 경쟁력 저하로 1993년 문을 닫았던 강원 영월군 텅스텐 광산이 최근 해외 투자를 유치한 것을 예로 들었다.캐나다 광업 회사인 알몬티는 한국 자회사인 알몬티대한중석을 통해 강원도 영월군 상동 텅스텐 광산 개발을 진행 중이다. 알몬티는 지난 5월 강원도 및 영월군과 1억 700만 달러(약 1천 311억원) 규모의 투자협약(MOU)을 맺고 현재까지 약 5300만 달러를 투자했다. 광맥 조사와 시추, 시험용 공장 건설 등 사전 준비가 진행된 상태다.김 회장은 "전자제품과 자동차 등 여러 산업에 전략적으로 중요한 텅스텐 공급은 중국 시장에 대부분 의존하고 있는데, 한국이 의미있는 대안이 될 가능성이 있다"며 "침체된 지역의 산업화를 촉진하고 관련 일자리를 창출하기 위해 보다 다양한 산업 분야에서 투자 유치 노력을 기울일 필요가 있다"고 말했다.또 그는 "한국이 홍콩을 대신하는 아시아 금융 허브로 도약하려면 해외 기업과 기업인에 대한 포용성을 높여 필요한 인적 자원을 구성해야 한다"며 "홍콩도 지금 위치에 서기까지 시스템과 시민의식, 비즈니스 문화 등을 갖추는 데 굉장히 오랜 시간이 걸렸고 한국은 아직 일부 요건이 부족할 수 있다"고 말했다. 그는 "홍콩은 외국인 커뮤니티를 (한국보다) 더 잘 갖추고 있는 게 사실"이라면서 "더 많은 글로벌 리더들이 거주하고 자리 잡을 수 있는 환경을 만들고 기업문화를 바꿔가야 한다"고 설명했다.한국이 해외 기업을 끌어들이기 위해 완화해야 할 대표적인 규제로는 고용 유연성을 낮추는 것과 최고경영자(CEO)에게 부과되는 높은 수준의 형사책임, 클라우드 등 신산업 관련 규제를 꼽았다.김 회장은 "해외 기업 입장에서는 한국에서 많은 사람을 고용하려고 할 때 망설일 수밖에 없다"며 "일단 고용하고 나면 해고가 너무 어렵기 때문"이라고 말했다. 또 그는 "한국에서는 CEO가 회사에서 생긴 문제에 대해 책임을 지는 정도가 매우 높다"고 지적했다.한국마이크로소프트(MS)에서 2009년부터 2015년까지 CEO를 맡았던 김 회장은 클라우드 관련 규제 완화가 경제적 기회를 창출할 수 있다는 이야기를 풀어놨다. 클라우드가 잘 알려지지 않았던 시절 한국에 MS 데이터센터를 세웠던 경험이 있기 때문이다.김 회장은 "MS CEO로 있던 당시 한국은 자연재해 발생 가능성이 낮고 물 공급이 풍부한 데다 정보통신기술(ICT) 인프라스트럭처까지 갖춰 데이터센터를 설립하기에 매우 경쟁력 있는 국가로 평가됐다"며 "그때도 지방자치단체와 정부가 MS 데이터센터를 유치하기 위해 노력을 기울였는데, 지금은 이보다 더 많은 성과가 가능할 것으로 예상한다"고 말했다.그는 공공 분야 클라우드 활용에 제약을 주는 일부 규정 등을 신산업 관련 불필요한 규제의 예로 들었다. 김 회장은 "한국에선 클라우드를 공공 분야에서 쓰려면 데이터센터가 한국에 꼭 있어야 한다는 규정이 있는데, 이는 많은 기업들이 지키기 어려운 규정"이라며 "클라우드를 활용하는 데 사실 데이터센터 위치는 중요하지 않다는 점에서 불필요한 규제가 산업 발전과 해외 기업 진출 가능성을 해치고 있는 사례라고 본다"고 했다.김 회장은 한국의 코로나19 방역 대응에 찬사를 보내면서 코로나19 사태 이후 한국이 높아진 국제적 위상에 따라 더 많은 기회를 얻게 될 것이라고 전망했다. 이 과정에서 암참이 한국·미국 기업 간 상호 교류와 진출을 적극 지원해 회원사로 참여하는 기업을 대폭 늘리는 게 김 회장의 목표다.그는 "한국 정부는 코로나19 확산 초기에 환상적인 일을 해냈다고 생각한다. 미국 본토에서도 한국의 코로나19 대응에 대해 많은 문의를 받고 있다"며 "6주 전에는 미국 국무부 차관에게 한국 상황에 대한 구체적 보고서도 보냈다"고 했다.이어 김 회장은 "과거에도 미국에서 브랜드 파워가 강한 삼성·LG·현대차 같은 기업들이 있긴 했지만 코로나19 이후 혁신의 리더로서 '코리아' 브랜드를 분명히 알렸다고 본다"면서 "결국 다른 산업이나 제품도 함께 경쟁력을 갖게 될 텐데, 한국 기업의 미국 진출을 지원하기 위해 최선을 다할 계획"이라고 말했다.▶▶ He is…△1962년 서울 출생 △UCLA 경제학·하버드대 대학원 경영학 석사 △2005년 오버추어 아시아지역 총괄사장 △2007~2015년 야후코리아·한국마이크로소프트 사장 △2016~2017년 한국GM 사장 △2017년~현재 주한미국상공회의소 상근회장·대표이사임형준 기자 / 사진 = 이충우 기자

2020.09.02

[Webinar] Medical Tourism in the COVID-19 Era

August 11, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a webinar on August 11 with the theme “Medical Tourism in the COVID-19 Era". The guest speakers were Prof. Joong H. Choh and Wonjae Lee from Seoul National University Bundang Hospital (SNUBH) and Karen Timmons, CEO of Global Healthcare Association (GHA) Program with Prof. Sung Hee Choi of SNUBH as the moderator. About the SpeakerJoong H. Choh, Medical Director, Physician in Chief, International Health Care Center, Clinical Professor, Seoul National University Bundang HospitalTopic : Medical Tourism Reactivation, Goals & Strategy in KoreaDr. Choh has been a cardiothoracic surgeon with training and practice background both in USA and South Korea until 2015 when he took the current position at his Alma Mater. He is board certified in General Surgery and Cardiothoracic Surgery in both countries.Over 35 years he maintained an active cardiovascular surgical practice in Chicago area with leadership roles including the Department Chair, the co-chair of Cardiovascular Division at Advocate Sherman Hospital System, in Elgin, Illinois and the managing partner of Northern Illinois Cardiothoracic Surgery Associates.Between 2003-2005, he served as the founding Medical Director of Cardiovascular Center of the new Seoul National University Bundang Hospital during its early phase.His area of main interest has been clinical coronary artery bypass surgery, quality improvement in management of CV disease in general, and more recently global health care issues.Click to view SPEAKER’S FULL BIOWonjae Lee, Assistant Professor, International Healthcare Center, Seoul National University Bundang HospitalTopic : Hospital Preparedness in Korea, SNUBH ExperienceProfessor Lee Wonjae is an attending physician at International Healthcare Center in SNUBH. He is an interventional cardiologist specialized in coronary intervention and pulmonary artery intervention. He graduated from Seoul National University, School of Medicine, and trained in Seoul National University Hospital. He also graduated Fuqua School of Business, Duke University for his MBA.Click to view SPEAKER’S FULL BIOKaren Timmons, Chief Executive Officer of the Global Healthcare Accreditation® (GHA) ProgramTopic : The “New” Normal for Medical Travel Programs in our Covid-19 eraKaren Timmons, Chief Executive Officer of the Global Healthcare Accreditation® (GHA) Program, leads an innovative and inaugural healthcare accreditation program designed specifically for healthcare organizations seeking to elevate the quality, patient experience, and excellence of care provided to medical travel, medical tourism and/or international patients. The program focuses specifically on an organization’s Medical Travel Care Continuum, encompassing the entire pathway of medical travel, as well as setting high expectations for transparency and cultural sensitivity. GHA’s Standards for Medical Travel Services were accredited in 2019 by the International Society for Quality in Health Care’s IEAA Program, thereby providing assurance to patients, insurers, ministries of health, and other stakeholders that an organisation’s medical travel services have undergone a rigorous evaluation against the highest international benchmarks for accreditation entities and are focused on both international best practices in medical travel and continuous improvement.”Click to view SPEAKER’S FULL BIOWebinar BriefWith the spread of COVID-19, the world is facing an unprecedented economic, social and political crisis. Medical tourism sector in Korea is no exception. Longstanding healthcare disparity,however, between different countries & ethnic groups emerged more vividly during this pandemic and calls for international cooperation and new role of medical tourism.Responding to the challenges & the obligation of Korean medical tourism in the COVID-19 era, we will address the new issues Korean healthcare sectors need to prepare and discuss future plans.The webinar was moderated by Sung Hee Choi, M.D., Ph.D., Professor & Chief of Endocrinology & Metabolism, Internal Medicine, Seoul National University, SNUBH, Chairperson of International Liaison, Korea Diabetes Association?.Miss a Webinar?Please refer to the following link to find out more about AMCHAM webinar:https://youtu.be/a0t-7haPrMA

2020.08.11

[Webinar] The World of Sports Beyond COVID-19

July 24, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a webinar on July 24 with the theme “The World of Sports Beyond COVID-19". The guest speakers were Leif Rogers and David Noel from Red Phoenix Entertainment and Maurice Evans of ELOS Sports Group. About the SpeakerLeif Rogers, CEO of Red Phoenix EntertainmentLeif Rogers is the CEO and Co-Founder of Red Phoenix Entertainment, where he focuses on bridging American sports and entertainment industries with global brands and markets.With over 25 years of finance and business development experience in China and emerging markets, Leif extends his deep global relationships to his clients. Prior to becoming CEO at Red Phoenix Entertainment in 2018, Leif served as the Vice Chairman at AMCHAM China Northeast and held director level positions at consulting and finance companies, such as ZP International Group, LLC and the Bank of Jinzhou. Leif Rogers holds a Bachelor of Business Administration from University of Phoenix and Associate of Applied Science from Pierce College. David Noel, Partner and Co-Founder at Red Phoenix EntertainmentDavid Noel is the Partner and Co-Founder of Red Phoenix Entertainment. He is focused on helping brands reach new global opportunities by leveraging professional sports and entertainment for marketing campaigns.David has been working with clients in Asia since 2012, and had previously lived in Northeast China. Prior to co-founding Red Phoenix Entertainment in 2018, he served as a Principal at ZP International Group ? a U.S.-China business consultancy. David has extensive experience in financial and operations consulting, having served as an Assistant Vice President at Mitsubishi UFJ Financial Group and at Banc of California. He has also served as a government consultant for the U.S. Department of Energy, helping to lead internal efficiency programs. David holds a bachelor’s degree of economics from UC Santa Barbara and master’s degree in International Management from UC San Diego’s School of Global Policy and Strategy. Maurice Evans, Former Vice President of NBA Players Association and Founder of ELOS SportsMaurice “Mo” Evans, is the former Vice President of the NBA Players Association, founder of ELOS Sports, and an 11-year NBA and European Basketball veteran. He is a member of the Kansas High School Hall of Fame, and in college at Wichita State, finished Top Ten in the NCAA in scoring as a sophomore season along with earning All Missouri Valley Conference Honors. Mo transferred to the University of Texas where he was named to the BIG 12 All Newcomer Team while also leading his team in scoring, steals, three-point percentage and a record 25 wins and 2001 NCAA Tournament birth. He continued to place emphasis on his academic achievement and earned his bachelor's degree in Education.After college, Mo begun a productive eleven- year career, which included playing for the Minnesota Timberwolves, Detroit Pistons, Atlanta Hawks, and Los Angeles Lakers, alongside Kobe Bryant. He was a member of the 2005 Detroit Piston team to play in the Eastern Conference finals and earn a franchise best 64-18 regular season record. He was also a two-time All-Star for both years he played in Europe (Olympiakos and Benetton). In 2003, while playing for Benetton he earned Eurobasket Player of the Year. While in Europe, he earned Eurobasket MVP of the All Star game, and helped his team to win the 2003 Coppa Italia Championship.Not only did Mo have a productive career on the court, he also served 4 years as the Executive Vice President for the Player’s Association. There he gained invaluable experience as a key member of the NBPA team that successfully negotiated the 2010-2011 NBA Labor dispute. He also helped create and participated in a number of programs, such as the NBA Business of Basketball Leadership and Development Program, The Mentorship Program, and NBPA Top 100 Coaching Program.Webinar BriefMuch of the world has come to a standstill in response to the global COVID-19 pandemic, and almost every industry has felt repercussions. However, the worldwide demand for digital entertainment is at full throttle, with demand for sports content soaring during "stay at home" periods.To understand the changing landscape in sports and digital sports content, Leif, David and Maurice have joined together with AMCHAM to break down the current and potential impacts of COVID-19 and what it may mean for the future of sports marketing.1. Introduction: The World of Sports Beyond COVID-19 2. Current Climate: How have professional sports been impacted by COVID?? 3. Looking ahead: Opportunity for brands to adapt to the world’s “new normal” by leveraging virtual marketing and endorsementsMiss a Webinar?Please refer to the following link to find out more about AMCHAM webinar:https://youtu.be/Snes1sTACWs

2020.07.24

[Webinar] The New Normal Era: Pharmaceuticals/Bio/Health Industries’ Digital Innovation Strategy

July 21, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a webinar on July 21 from the sponsor of Automation Anywhere Korea and Rainbow Brain. This webinar presented the theme of “The New Normal Era: Pharmaceuticals/Bio/Health Industries' Digital Innovation Strategy". The guest speakers were Youngsoo Lee from Automation Anywhere Korea and Changhoon Ji from Rainbow Brain.? About the SpeakerYoungsoo Lee, Country Manager, Automation Anywhere KoreaTopic : 'Intelligent Automation' to secure business sustainability and change in the pharmaceutical/bio industry in the post-COVID era- The Impact of COVID-19 on the pharmaceutical/bio industry and changes in business strategy during the crisis- Enhancement of new growth engines through ’intelligent automation' of the pharmaceutical/bio industry- Proposal of AI-based digital innovation to prepare for the global bio-economy era Chang hoon Ji, Rainbow Brain CTOTopic : A case of AI-based 'intelligent automation' in the pharmaceutical/bio industry- A: Cases of automated reports on medication supply details by pharmaceutical companies- B: Upgrading digital technology on the boundary between pharmaceutical and food products, checking health food regulations and cases of automating inspection of health foods- C: Cases of automation of healthcare solutions and physical examination systems- D: Cases of automation of a food and drug company’s unlawful online drug distribution processesWebinar BriefThe unexpected “New Normal” and “post-COVID-19” era have revolutionized industrial structure and ecosystem.In order to overcome the risks caused by COVID-19 and maintain continued profit and growth, domestic and foreign companies are examining their business sustainability and accelerating changes in how they work across industries, including how they manage to prepare for disasters (distribution of manpower, diversification of production sites, diversification of supply chains, and untact digital).The Korean government presented plans to foster the competitiveness and potential in the bio sector as a growth engine in the post-corona industry amid the emergence of digital infrastructure as part of the Korean New Deal policy.Therefore, it raises questions on preparation for the development of the pharmaceutical/bio/health industries and the global bio-economic era based on fourth industrial technologies such as artificial intelligence and big data. This webinar will introdue some of the latest contributions that artificial intelligence and big data can have on the global bio-economic era.Full DetailsPlease refer to the following link for full content access on AMCHAM webinar:https://youtu.be/OmxQcnkM55w

2020.07.21

[News Article] 제임스 김 암참 회장 “세제 개혁·규제 완화땐 포스트 코로나 한국 투자매력 높일 것”

한국계 미국인 최초로 주한미국상공회의소(AMCHAM·암참) 회장 겸 대표이사에 오른 제임스 김 회장이 지난 8일 서울 영등포구 여의동 국제금융센터(IFC) 내 사무실에서 헤럴드경제와 인터뷰를 하고 있다. 김 회장은 세제 개혁 및 규제 완화가 동반된다면 한국이 더욱 매력적인 투자처가 될 것이라고 강조했다. 이상섭 기자?[헤럴드경제] “중국으로 쏠려 있는 사업 포트폴리오의 다변화 노력과 정부의 적극적인 세제 개혁 및 규제 완화, 그리고 타국에 비해 상대적으로 높은 준법 비용의 개선 등이 필요합니다” 한국에 진출한 미국의 기업을 대표해 800여 회원사를 거느린 주한미국상공회의소(AMCHAM·암참)의 제임스김(58) 회장은 신종코로나바이러스감염증(코로나19)와 미·중 무역전쟁 등 최고조로 치닫는 불확실성 속에서 한국 경제의 지속적인 성장을 위해 이같은 조언을 쏟아냈다.지난 8일 서울 여의도 국제금융센터(IFC) 내 사무실에서 헤럴드경제와 가진 인터뷰에서 스스로를 낙관론자로 칭한 김 회장은 현 상황에 대해 “장기적으로 보았을 때 상황은 계속해서 좋아질 것”이라며 “오히려 코로나19로 인해 한·미 경제동맹의 중요성이 더욱 대두될 것”이라고 전망했다.김 회장은 1953년 설립 이래 임명된 암참의 첫 한국계 미국인 회장이다. 2013년말부터 암참의 비상근 회장으로 활동하다, 2017년부터는 암참의 상근회장이자 대표이사를 역임해 오고 있다. 암참 역사상 상근 회장 타이틀을 단 것도 김 회장이 처음이다.이날 인터뷰의 주된 화두는 단연 코로나19였다. 코로나19로 인한 기업 경영 환경의 변화 등을 두고 질문과 대답이 집중적으로 오갔다. 또 미국과 중국의 무역전쟁, 최근 급격히 경색된 북·미, 남·북 관계 등도 화두에 올랐다.그는 코로나19로 인해 많은 기업들이 어려움을 겪고 있지만, 기업들은 특유의 생존 본능으로 이를 해결해 나가고 있다고 강조했다. 김 회장은 “한국 진출 미국 기업들은 코로나19로 인한 어려움을 이겨낼 방법을 찾아나가고 있다”라며 “예를 들어 맥도날드는 드라이브스루와 배달 서비스로 수익을 유지하고 있으며, 코스트코는 전자상거래 시장으로 선회하며 시장 선도를 이어나가고 있다”고 설명했다. 그는 이어 미국 대선을 앞두고 보호무역 기조가 강화되고 있다는 우려에 대해선 “한국과 미국은 경제적, 군사적, 문화적으로 서로에게 매우 중요한 파트너”라며 “더불어 무역협정의 글로벌 기준으로 삼는 한·미 자유무역협정(FTA)은 앞으로도 두 국가가 지속적으로 공정하고 상호 호혜적인 무역 관계를 이어나갈 플랫폼으로 작용할 것”이라고 말했다.인터뷰는 코로나19에 대한 양국 정부의 대응 평가로 이어졌다. 김 회장은 한국 정부의 대응에 ‘신속하고 혁신적인 대응’이라는 표현을 사용했다. 그는 “한국은 Tracking(역학, 추적), Testing(검사, 확진), Treatment(격리, 치료)의 3T에 기반한 방역으로 폐쇄(Lock down) 조치 없이 확산세를 줄이는 데 성공했다”고 평가했다. 이어 코로나19 이후 경제 회복 시점에 대해선 1년이 걸리지 않을 것이란 전망을 내놓았다. 김 회장은 최근 암참 회원사들을 대상으로 한 설문조사의 결과를 인용하며, 대부분의 국내 미국계 기업들이 1년 이내의 완전한 회복을 예상했다고 전했다. 아울러 이들 기업들은 투자 및 고용의 감소를 계획하지 않고 있다고 덧붙였다.이어 기업인들에게 주어진 불확실성의 핵심인 미국과 중국의 무역 전쟁을 두고 이야기가 오갔다. 김 회장은 미·중 갈등 속에 한국 정부와 기업의 대응 전략을 묻는 질문에 포트폴리오 다변화를 주문했다. 그는 “미·중 무역 갈등은 많은 불확실성을 초래하기 때문에 한국 정부와 기업들은 다변화에 초점을 맞춰야 한다” 라며 “한국의 제1대 수출 대상국인 중국은 현재 한국 GDP의 30%를 창출하고 있는데, 단일 시장에 과도하게 의존하는 것은 많은 위험을 초래할 수 있으며, 한국 경제의 안정성에도 큰 리스크로 작용할 수 있다”고 경고했다.트럼프 대통령이 홍콩의 특별지위를 박탈하는 행정명령에 서명한 데 따른 영향에 대해선 홍콩이 갖는 지리적 이점이 약화될 것 이라고 진단했다.아시아 금융허브의 기능을 홍콩을 대신해 한국이 대체할 수 있는 지에 대해선 긍정적인 입장을 내놓았다. 그는 “홍콩의 아시아 금융허브로서의 위상이 하루 아침에 이루어지지 않았듯이 한국에도 시간이 필요하겠지만,아시아 금융허브의 기능을 한국이 대체하는 것을 개인적으로는 매우 찬성하는 입장”이라고 밝혔다. 김 회장은 그러면서 “이전 직장에 재임하며 아시아 내 투자처로 다양한 국가를 검토한 이후 한국을 택한 이유는 훌륭한 지리적 이점, 뛰어난 인적자원, 기술적 혁신성 등을 기반으로 한 매력적인 투자처라는 인식 때문이었다”며 “전 세계적으로 보았을 때, 서울 규모의 대도시에서 이만큼 낮은 요금으로 위생적인 대중교통 체계를 누릴 수 있는 곳도 드물다”고 평가했다.인터뷰는 이어 외국 기업들을 대표하는 단체의 회장으로서 우리나라의 기업 환경에 대한 평가로 이어졌다. 김 회장은 예상 외로 한국의 기업 환경에 대해 긍정적으로 평가했다. 그는 “상징적인 글로벌 브랜드부터 중소기업에 이르기까지 수많은 미국 기업들이 한국에 투자하고 싶어하고, 한국 내에서 성장을 이루고 있다”라며 “예를 들어 라이나 생명으로 잘 알려져 있는 시그나의 경우 한국이 미국 다음으로 세계에서 2번째로 큰 시장이며, 맥도날드는 국내에서 1만7000여개의 일자리를 창출하고 있고, HP코리아는 국내 시장에 10억달러 이상을 투자해 R&D센터를 설립하기도 했다”고 강조했다. 김 회장은 하지만 타국에 비해 높게 형성된 준법 비용에 대해선 아쉬움을 표했다. 최고경영자(CEO)가 본인의 직접적 소관 밖에서 일어나고 있는 일에 대해서까지 형사 책임을 지는 일이 발생하고 있다는 점을 그는 지적했다. 김 회장은 이에 “규제 도입과 준수에 있어 투명성과 예측가능성의 개선은 한국을 포스트코로나 시대에 더욱 매력적인 투자처로 만드는데 일조할 것”이라고 조언했다. 최근 정부가 적극적으로 추진 중인 리쇼어링에 대한 제언도 이어졌다. 미국은 리쇼어링 정책에서 전 세계적으로 성공한 국가로 꼽힌다. 김 회장은 “코로나 사태 발발 전, 미국은 50년만에 최저 실업률과, 역사적인 경제호황을 누리고 있었고, 이는 지난 2년간 기록적인 수의 미국 제조업체들이 리쇼어링을 통해 본국으로 돌아가는 결과를 낳았다”라며 “법인세 인하 등의 세제개혁과 규제 완화와 같은 기업 친화적인 경제 정책이 원동력이 됐다”고 강조했다. 그러면서 김 회장은 “미국의 성공적인 경제 성장은 한국이 일자리 창출 및 글로벌 기업의 투자 유치를 위해 참고할 수 있는 좋은 모범 사례가 될 것”이라며 “ 미국의 사례를 참고해 한국은 탈 규제, 세제 혜택 제공 등 기업의 요청사항에 귀 기울여 외국인 투자 유치에 힘써야 한다”고 조언했다.최근 심화되는 북·미, 남·북 관계의 경색 국면에 대해선 그는 이미 한국인과 다름 없었다. 김 회장은 북한 리스크에 따른 긴장을 묻는 질문을 16년 간 미국 현지로부터 가장 많이 받은 질문이라고 했다. 그러면서 그는 “한국에서 16년 간 기업활동을 이어왔지만, 대북 리스크로 인해 국내 투자 규모를 재고해 본 적이 없다”며 “사실 이는 한국에서 생활을 하는 많은 외국인 기업인들에게 전혀 이슈가 되지 않는 상황”이라고 강조했다. 그는 한·미 양국 정부가 좋은 결과를 도출할 것이라고 자신했다.[정순식 기자?]

2020.07.20

[Webinar] 2020 Tax Law Changes Impacting Foreign Companies and Foreign Invested Korean Companies

July 16, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a webinar on July 16 with the theme “2020 Tax Law Changes Impacting Foreign Companies and Foreign Invested Korean Companies". The guest speakers were Jay Shim (moderator), senior foreign attorney and Ted Tae-Gyung Kim, tax partner from Lee & Ko, and Tae Hyoung Kim, associate from Yoon & Yang. About the SpeakerTed Tae-Gyung Kim, Tax Partner, Lee & KoTed Kim is a leading partner in the Tax Practice Group of Lee & Ko. He is a Korean Certified Public Accountant & Certified Tax Accountant, and in addition has passed the US CPA examination. He has over 27 years’ experience in providing various international tax and transfer pricing consulting services for global companies. These include tax audit defense, tax appeals, BEPS & TP documentation, as well as APA & MAP services. Before joining Lee & Ko, he worked at PricewaterhouseCoopers (“PwC”) and Deloitte for more than 20 years, including two years secondment to the international tax service group at PwC New York. He is the co-author of “International Taxation in Korea”, “Understanding of US Tax Law” and “US Tax Law ? Transfer Pricing Rule”. He completed his Ph.D program at Sungkyunkwan University Law School. In addition, he received a Master’s degree in taxation from the University of Seoul. He is a member of the International Fiscal Association and the Study Group of Special Tax Cases at the Supreme Court of Korea. Tae Hyoung Kim, Associate, Yoon & YangTae Hyoung Kim is a certified public accountant in the US (Maine) at Yoon & Yang LLC, and his main practice area is international taxation and transfer pricing advice for domestic and foreign multinational enterprises. He worked as a CPA in the Global Transfer Pricing Services Team at KPMG Samjong’s Tax Division, dealing with various projects including establishment of global transfer pricing policies, support for mutual agreement procedures (MPA) and advance pricing arrangements (APA), tax due diligence and tax risk diagnosis, support for tax audit and tax appeal. After joining Yoon & Yang LLC, he has provided comprehensive services for numerous multinational enterprises’ international taxation and transfer pricing matters including the BEPS project related advice, transfer pricing policy setup, and transfer pricing audit support. Full DetailsPlease refer to the following link for full content access on AMCHAM webinar:https://youtu.be/8d5iVEU_HIc

2020.07.16

[Webinar] Healthcare Systems Using Genomics to Combat COVID-19

July 07, 2020 - The American Chamber of Commerce in Korea (AMCHAM) hosted a webinar on July 07 with the theme “Healthcare Systems Using Genomics to Combat COVID-19". The guest speaker was Dr. David Bentley, V.P. and chief scientist from Illumina Inc. About the SpeakerDavid Bentley, DPhil FMedSci, Vice President and Chief Scientist at Illumina Inc.David graduated with an M.A. in Natural Sciences from Cambridge and a D.Phil. from Oxford. During his career he has been a Senior Lecturer at London University; and later the Head of Human Genetics and a founder member of the Board of Management at the Sanger Center.David has played a leading role in the Human Genome Project and related international consortia to characterize human sequence variation, including the SNP Consortium and the HapMap Project. His long-term interest is the study of human sequence variation and its impact on human health and disease. His current research is focused on fast, accurate sequencing of human genomes for adoption in healthcare, with early applications including rare genetic disease and cancer. These applications are exemplified by the completion of the 100,000 genomes project, a partnership between Illumina, Genomics England and the National Health Service (NHS) in England.Most recently David has focused research efforts on supporting development of sequencing approaches for SARS-CoV-2 genomes and the host genomes of infected patients in partnership with Genomics England and the NHS. Full DetailsPlease refer to the following link for full content access on AMCHAM webinar:https://youtu.be/8d5iVEU_HIc

2020.07.07

Login