KOTRA, AMCHAM to cooperate on regulatory reform, S. Korea-US trade
The Korea Trade-Investment Promotion Agency and the American Chamber of Commerce in Korea on Thursday formed a strategic partnership to promote regulatory reform and boost bilateral trade between South Korea and the United States, the organizations said.
Under a memorandum of understanding signed on the day, the two organizations agreed to collaborate on promoting regulatory reform and support initiatives that advance the US-Korea economic partnership. They will set up a joint working-level committee to identify and recommend regulatory improvements to this end.
The two sides also plan to co-host briefings, exhibitions and export consultations while continuing to explore new opportunities to expand bilateral trade and investment.
"We hope this partnership with AMCHAM will serve as a valuable bridge for Korean small and medium-sized enterprises seeking to enter the US market," KOTRA Chief Executive Officer Kang Kyung-sung said.
James Kim, chairman and CEO of AMCHAM, said the partnership represents a key step forward in reducing non-tariff barriers in bilateral trade and strengthening South Korea's position as a premier regional business hub. (Yonhap)
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