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Finance Minister Koo at AMCHAM: 'Now is the
time to pay attention to Korean economy'
Arirang TV - Finance Minister Koo Yun-cheol believes AI partnership between South Korea and the U.S. will promote broader long-term benefits. Our business correspondent Park Jun-han covers his remarks.
Korea's Deputy
Prime Minister and Minister of Finance and Economy Koo Yun-cheol says now is
the time for the world to pay attention to the Korean economy, especially as
the AI era unfolds. "Korea has strong capabilities across the entire AI
ecosystem, from infrastructure and chips to world-class manufacturing, industry
know-how and a wealth of real-world data. The U.S. is also Korea's most
important partner in AI. By combining the ideas of American companies and their
business experience with Korea's capabilities, and commercializing them here
before taking them to global markets, I believe we can make the global economy
more efficient."
This comment
came when Koo attended a special luncheon hosted by the American Chamber of
Commerce in Korea, where Koo and AMCHAM Chairman James Kim discussed Korea's
vision for long-term growth.
Wednesday's
discussion focused on strengthening Korea's position as a global financial hub,
implementing bilateral strategic investments, and expanding AI cooperation.
During his
remarks, Koo outlined the government's "3-4-5 Vision."
Where Korea
aims to reach a three percent potential growth rate, position itself as one of
the world's top four exporters, and achieve a per capita income of 50-thousand
U.S. dollars.
He also
highlighted capital market advancement tools, such as easing foreign exchange
regulations and transitioning to 24-hour foreign exchange market operations.
AMCHAM CEO
James Kim welcomed the government's commitment.
He noted that
the strong AI momentum from tech giants like Samsung Electronics and SK hynix
gives Korea a unique opportunity to solidify its position as a major investment
hub and expand bilateral ties.
"As we
commemorate the 250th anniversary of America's founding this year, there is no
better time now to look ahead to the next chapter of the U.S.-Korea
partnership, one defined not only by our security alliance but increasingly by
investment, innovation, technology, and public-private collaboration."
Minister Koo
also noted he prefers calling AMCHAM member companies "KORCHAM,"
emphasizing that American companies operating and investing here should be
treated equally as Korean firms.
He added that
the government deeply appreciates their contributions and will do its best to
maintain close communication and cooperation.
Park Jun-han,
Arirang News.
