KCCI,
AMCHAM Korea, GM Korea Collaborate to Expand U.S. Product Sales in Korea
Agreement Supports 'Buy
America Campaign' to Enhance U.S. Product Procurement
By Michael Herh,
BusinessKorea - The Korea Chamber of Commerce and Industry (KCCI), the American
Chamber of Commerce in Korea (AMCHAM Korea), and GM Korea have signed a
memorandum of understanding (MOU) to support the expansion of U.S. product
sales in the Korean market.
On May 8, KCCI held an
MOU signing ceremony at the Chamber of Commerce building in Jung-gu, Seoul, to
cooperate with the “Buy America Campaign.” The event was attended by Chey
Tae-won, chairman of KCCI, James Kim, chairman of AMCHAM Korea, Hector Villarreal,
president of GM Korea, and Haley Sund, commercial officer at the U.S. Embassy
in Korea.
The “Buy America” is a
campaign led by AMCHAM Korea. It aims to strengthen economic cooperation,
promote mutually beneficial trade, and balance trade between Korea and the U.S.
by expanding the procurement of U.S. products in key industries such as energy
and automobiles. Previously, AMCHAM Korea had signed agreements with companies
like Homeplus and Lotte Global Logistics.
Through this agreement,
U.S. automobile manufacturers will provide competitive prices and high-quality
services, while the chambers will encourage the inclusion of U.S. vehicles in
the consideration for executive and business vehicle purchases. They will also
cooperate in addressing domestic regulations on U.S. vehicles.
KCCI Chairman Chey
stated, “As the Korean and U.S. governments are actively engaged in trade
consultations, this is a crucial turning point to resolve uncertainties in
Korea’s trade environment with the U.S.” He emphasized, “However, since it is
the role of businesses to create actual results, this MOU is significant in
that it is a cooperation model led by the private sector.”
Chey added, “The Korean
and U.S. business communities creating practical cooperation cases together
will not only contribute to balancing the trade relationship between Korea and
the U.S. but also positively influence trade consultations between the two governments.”
James Kim, chairman of
AMCHAM Korea, said, “Through the Buy America Campaign, we aim to support Korean
companies in more actively procuring U.S. products and further contribute to
expanding trade cooperation between the two countries.” He added, “We hope that
this MOU signing will lead to the creation of various practical trade
cooperation models between the two countries.”
Hector Villarreal,
president of GM Korea, emphasized, “This agreement is a strategic opportunity
to expand the sales of U.S. vehicles in the Korean market. We will continue to
grow in the Korean market based on creating a fair business environment, competitive
pricing, service excellence, and partnerships.”
Source: https://www.businesskorea.co.kr/news/articleView.html?idxno=241819