AMCHAM seminar explores ways to improve Korea’s regulatory landscape

By Lim Jae-seong, The Korea Herald - The American Chamber of Commerce in Korea announced that it held a seminar focused on Korea’s business regulatory landscape, seeking ways to strengthen business partnerships between Korea and the US and foster closer ties between the two countries.

The seminar, titled Shaping the Regulatory Environment for Sustainable Trade, was held at the Conrad Seoul Hotel in Seoul on Tuesday. It aimed to explore strategies to enhance Korea’s appeal as an investment destination, according to AMCHAM.

AMCHAM stated that discussions centered on regulatory innovation, the expansion of sustainable investment, and stronger collaboration between the public and private sectors to improve Korea’s global competitiveness.

Special attention was given to regulatory hurdles facing key industries such as biopharmaceuticals, the digital economy, energy and chemicals during the seminar.

“As we mark 100 days into President Trump’s administration and prepare for Korea’s presidential election, the US-Korea economic partnership stands at a critical juncture,” said AmCham Chair James Kim in his opening remarks.

“To sustain and deepen our cooperation, it is more important than ever to address Korea-specific regulatory challenges and create a more sustainable, transparent environment.”

The event brought together a broad range of trade-related figures from politics, government, diplomacy and business, including Korean Trade Minister Cheong In-kyo; Rep. Kim Won-i, vice chair of the National Assembly’s Trade, Industry and Energy and Small and Medium Venture Business Committee; Joy Sakurai, deputy chief of mission at the US Embassy in Seoul; and Park Il-joon, executive vice chair of the Korea Chamber of Commerce and Industry.

While business leaders shared their views on driving innovation in Korea during the seminar, the trade minister pledged to foster a more predictable and sustainable investment environment.

“As the Chair of the Asia-Pacific Economic Cooperation ministers responsible for trade meeting, the Ministry of Trade, Industry and Energy is fully committed to defending a free and fair trade system and enhancing Korea’s investment attractiveness through regulatory reform and improvements to the business environment,” said Minister Cheong.

“We will continue to engage closely with AMCHAM and the global business community to deepen the economic partnership between Korea and the US.”

Source: https://www.koreaherald.com/article/10477005?ref=naver