2024.09.06
AMCHAM Signs MOU with Hwaseong City to Bolster Economic Collaboration and Investment
AMCHAM signs MOU with Hwaseong City as a part of mission to position Korea as a business hub in APAC and
support economic collaboration to attract more investment from American companies
September 06, 2024 – The American Chamber of Commerce in Korea (AMCHAM Korea; Chairman & CEO James Kim) signed a Memorandum of Understanding (MOU) with Hwaseong City today. This agreement aims to deepen economic collaboration and enhance investment opportunities between AMCHAM member companies and Hwaseong City.
The signing ceremony was attended by AMCHAM Chairman & CEO James Kim, Hwaseong City Mayor Jeong Myeong-geun, National Assemblyman for Hwaseong City Kwon Chil-seung, and representatives from Hyundai/Kia R&D Center and 3M Hwaseong Plant, who represented AMCHAM member companies in the region.
This MOU represents yet another significant milestone in AMCHAM’s ongoing mission to position South Korea as the leading business hub in the Asia-Pacific region. Under the agreement, AMCHAM and Hwaseong City will work together to support economic activities of AMCHAM members within the city, attract new investments, and explore partnership opportunities between AMCHAM members entering the Korean market and local businesses in Hwaseong.
AMCHAM Chairman & CEO James Kim said, “This MOU marks the beginning of an exciting new chapter between AMCHAM and Hwaseong City, particularly in areas of investment attraction and support for U.S. businesses looking to establish and expand in this dynamic region. With Hwaseong’s robust infrastructure and innovative policies, we are confident that this partnership will lead to exciting opportunities for both American and Korean businesses.”
He added, “I look forward to working closely with Mayor Jeong and his team to unlock new opportunities, drive mutual growth, and contribute to Hwaseong’s rise as a leading global business destination”
Mayor Jeong Myeong-geun of Hwaseong City expressed his enthusiasm for the partnership, saying, “Partnering with AMCHAM, which represents global corporations, will be a powerful catalyst for attracting new businesses to Hwaseong. I am confident that this agreement will lead to mutual growth and prosperity for both Hwaseong City and AMCHAM." He added, "We are committed to making Hwaseong City a land of opportunity for American companies and will provide unwavering support to achieve this goal.”
Looking ahead, the two organizations will work closely to identify opportunities for cooperation, strengthen networks with AMCHAM and its member companies, attract further investment from American businesses, and support economic cooperation and investment attraction.
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