[Special Luncheon with MOTIE Minister] Industry minister asks US to issue E4 visas for highly-skille…
Industry minister
asks US to issue E4 visas for highly-skilled Koreans
Gov't
vows efforts to increase FDI
By
Park Jae-hyuk, The Korea Times - The Korean government has reiterated the need
for issuing specialized E4 visas for Korean professionals in the United States,
following multiple failed attempts to pass the Partner with Korea Act in the
U.S. Congress. Trade,
Industry and Energy Minister Ahn Duk-geun said Thursday that employment visa
challenges have made it difficult for major Korean conglomerates to dispatch
workers to their U.S. offices and to increase investments in the world’s
largest economy. “Whenever
I explain this problem to U.S. lawmakers coming to Korea, they have promised to
solve it,” he said during a luncheon hosted by the American Chamber of Commerce
in Korea (AMCHAM). “The
passage of the Partner with Korea Act will help the industrial ecosystem and
bilateral investments between Korea and the U.S.” Over
the past decade, several bills have been proposed in the U.S. Congress to issue
specialized employment visas for highly-skilled Korean nationals, aiming to
provide them with similar opportunities as professionals from Australia,
Singapore, and Chile, who are eligible for specialized employment visas in the
U.S. The
latest proposal for a bill to issue E4 visas for 15,000 Korean professionals
annually is on the verge of expiring once again due to the upcoming dissolution
of the House of Representatives next January. Ahn
therefore requested AMCHAM's assistance in addressing this issue. “We
do not intend to disrupt U.S. immigration policies,” he said. During
the luncheon, the minister also outlined the government’s policies to attract
increased foreign direct investment (FDI) from the U.S. and other countries. He
expressed gratitude for AMCHAM’s efforts in helping foreign companies establish
their regional headquarters in Korea. “We
drew up a budget to support R&D by foreign-invested companies,” he said. In
light of escalating U.S.-China tensions and the geopolitical risks arising from
military conflicts between Russia and Ukraine, as well as tensions in the
Middle East, he added that Korea offers global enterprises a valuable
opportunity to diversify their export markets, thanks to its extensive network
of trade partnerships. As
the minister responsible for energy policies, Ahn introduced the carbon-free
energy initiative, which includes the use of nuclear power. He said this
approach is a more suitable option for Korea’s climate. “We
will announce specific elements of the initiative next week during the World
Climate Industry Expo in Busan,” he said. “This
global initiative will serve as a stepping stone for developing countries to
transition to carbon neutrality.” Ahn
also said Korea is open to including provisions on digital trade in the
Korea-U.S. Free Trade Agreement, which celebrated its 12th anniversary this
year. AMCHAM
Chairman James Kim emphasized the strengthening of Korea-U.S. economic
relations. “The
U.S. is now on the verge of surpassing China as Korea’s number one export
destination,” he said. “Just
last year, the U.S. was the leading investment destination for Korean
companies, accounting for more than 43 percent of total outbound Korean FDI.
Similarly, the U.S. was the largest source of FDI in the Korean economy,
contributing more than 32 percent.” The
chairman recognized Ahn for his leadership, saying that his strategic vision
for the Korea-U.S. economic collaboration has significantly contributed to the
strong bilateral relationship. Source:
https://www.koreatimes.co.kr/www/tech/2024/08/419_381506.html?na
2024.08.29
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