AMCHAM Pledges to Serve as Bridge to Strengthen U.S.-Korea Alliance for Next 70 Years
At Press Conference to commemorate the 70th anniversary of the U.S.-Korea alliance and the founding of AMCHAM Korea
February 23, 2022 – The American Chamber of Commerce in Korea (AMCHAM; Chairman and CEO James Kim) hosted a press conference this morning at the IFC Forum to commemorate the 70th anniversary of the U.S.-Korea alliance and the founding of AMCHAM Korea. AMCHAM Chairman & CEO James Kim, Chairman of AMCHAM Board of Governors Henry An, Chairman of AMCHAM Partners for the Future Foundation Jeffrey Jones and Vice Chair of AMCHAM Board of Governors YouMe Jeon shared key achievements, contributors of the strong relationship between the two countries as well as primary objectives of AMCHAM for this year.
At the press conference, AMCHAM Chairman & CEO James Kim announced its primary objectives for 2023. This year, AMCHAM aims to commemorate 70 years of enhancing relations between the U.S. and South Korea; accelerate the vision to make Korea the regional headquarters in Asia through active engagements with Korean stakeholders; fortify strategic partnerships at all levels of the U.S. government for mutual cross-border investment; and execute industry-wide and surgical solutions to support member objectives.
Elaborating on the initiative to accelerate Korea’s emergence as the regional headquarters in Asia, Chairman & CEO Kim described the results of the 2023 AMCHAM Business Survey. Conducted earlier this year, this survey collected AMCHAM members’ opinions on the business environment and the competitiveness of Korea in the region. For the second year in a row, Korea was ranked as second most preferred destination for regional business headquarters in Asia, after Singapore. Labor policy, tax policy, CEO liability, IP protection and digital economy were cited as the top five areas that need reform for Korea to realize its potential as regional headquarters.
Chairman & CEO Kim also outlined seven key policy proposals to boost Korea’s competitiveness compared to other regional business hubs, such as Singapore, Tokyo and Hong Kong. He called for reform in corporate and foreign income tax rates, the labor market, the digital economy, the regulatory environment of financial services, CEO risk, intellectual property (IP) protection, and ESG.
“On behalf of AMCHAM, I would like to thank the Korean Government and the ‘Dream Team’ for their remarkable leadership in steering Korea expertly through various economic and geopolitical uncertainties we are seeing today,” said Chairman & CEO Kim. “As a Korean American who have been in Korea now nearly twenty years, I can say with confidence that the U.S.-Korea relations is at its best I have seen in my time here.”
“Given the strong infrastructure, human capital and IT expertise, Korea has a great opportunity to take the position as the best business hub,” he continued. “AMCHAM will continue to play a key role in connecting the U.S. and Korean governments and business communities and look forward to working with the Korean Government to promote Korea as the best place to do business in Asia Pacific.”
Chairman Henry An of the AMCHAM Board of Governors said, “This year, AMCHAM released the ‘Business Environment Scorecard Expanded Edition: KORUS FTA & Indo-Pacific Economic Framework (IPEF).’ Going forward, AMCHAM will continue to work closely with the U.S. and Korean governments to improve the issue areas specified in the report.”
Chairman Jeffrey Jones of the Partners for the Future Foundation said, “AMCHAM’s main mission this year is deeply related to its American Business Center (ABC) Program. We will expand AMCHAM’s influence to SMEs by providing the highest level of support to small and medium-sized companies that wish to enter the Korean market.”
Vice Chair YouMe Jeon of the AMCHAM Board of Governors said, “AMCHAM clearly recognizes that ESG is a key element for innovation and value creation. We will strive to realize the value of sustainable ESG management activities as well as diversity and inclusion through ‘Happy Together,’ a program launched by AMCHAM’s Partners for the Future Foundation to create jobs for those living with disabilities.”
주한미국상공회의소, 창립 70주년 맞아 더욱 굳건한 한미동맹 위한 건실한 가교 역할 다짐
한미동맹 및 암참 창립 70주년 기념 신년 기자간담회 통해 올 한 해 암참의 주요 미션 공유 및 한국을 아시아 제1의 비즈니스 허브로 부상케 하기 위한 7가지 핵심 정책 제언