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AMCHAM,
Finance Ministry explore policies to elevate Korea as financial hub
By Sarah
Chea, Korea JoongAng Daily - James Kim, chairman of the American Chamber of
Commerce in Korea (AMCHAM), met with Finance Minister Koo Yun-cheol on Tuesday
to explore strategic policy directions aimed at elevating Korea’s standing as a
global financial hub and a premier regional headquarters destination.
This
dialogue followed the publication of AMCHAM's Korea’s Financial Hub Agenda
report, which sets forth 39 policy proposals, including 10 core reform
priorities. The report emphasizes the need to enhance regulatory transparency,
harmonize domestic frameworks with international standards and broaden market
accessibility in order to better attract foreign capital.
Kim
highlighted the urgency of bolstering the competitiveness of Korea’s financial
sector, particularly in the face of intensifying competition from established
financial hubs such as Singapore and Hong Kong, which continue to consolidate
their regional influence.
Both
parties reaffirmed their commitment to sustained public-private cooperation as
a cornerstone for strengthening Korea’s investment climate and global
competitiveness, agreeing to pursue further substantive discussions on key
financial hub initiatives.
“In
light of growing momentum toward Korea’s potential inclusion in the MSCI
Developed Market Index, this is a critical opportunity to further strengthen
Korea’s position as a global financial hub,” said Kim. “Through our Financial
Hub Agenda Report, AMCHAM has outlined actionable recommendations, and we look
forward to working closely with the ministry to advance reforms that enhance
market competitiveness, attract global investment, and support Korea’s
evolution as a leading regional headquarters hub.”
