Latest news with #KangKyung-sung
Korea Herald
15-05-2025
- Business
- Korea Herald
AmCham, KOTRA partner to boost bilateral economic ties
The American Chamber of Commerce in Korea signed a memorandum of understanding with the Korea Trade-Investment Promotion Agency on Thursday to enhance trade, investment and regulatory cooperation between Korea and the US. Through the agreement signed at the KOTRA headquarters in Seoul, the two organizations will form a joint working-level committee to identify and address key regulatory challenges based on AmCham's annual reports and member input. AmCham and KOTRA will also co-host regular events such as briefings, roundtables, exhibitions and export consultations, while seeking new areas for bilateral collaboration. The agreement builds on the findings of AmCham's '2025 Business Environment Insight Report: APEC Special Edition,' which highlighted approximately 70 unresolved or emerging regulatory issues across 12 key industries including aerospace, pharmaceuticals, energy and the digital economy. 'This MOU lays important groundwork for enabling strategic economic collaboration,' said AmCham CEO James Kim. 'It represents a key step forward in reducing nontariff barriers, strengthening Korea's position as a premier regional business hub, and ensuring the success of APEC 2025.' KOTRA President and CEO Kang Kyung-sung added to the statement, expressing his hope that the partnership will support Korean small and midsized enterprises entering the US market and strengthen business ties between the two countries.
Korea Herald
15-05-2025
- Business
- Korea Herald
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)
Korea Herald
26-03-2025
- Business
- Korea Herald
S. Korea to provide 'all-out' support to export firms amid global trade uncertainties: ministry
The government will join hands with export-related agencies to provide "all-out" support to South Korean companies in export business, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual Property Office and the Korea Trade-Investment Promotion Agency, on a comprehensive support package for export companies amid heightened global trade uncertainties, according to ministry officials. In the conference, the ministry and related agencies showcased the comprehensive support package, which includes an emergency system to help companies respond to tariff issues, consultations on business strategy and various other support measures. The government has devised support measures ranging from export vouchers for small and medium-sized enterprises to the largest-ever trade financing scheme, worth 366 trillion won ($249.9 billion), to help local businesses respond to major economies' protectionist trade policies. "Even amid shifts in market conditions, South Korean companies will be able to have new export opportunities with competitive technologies and differentiated strategies," Industry Minister Ahn Duk-geun said during his visit to the conference, vowing to work to keep expanding support measures for export firms. Kang Kyung-sung, president and CEO of KOTRA, said it will put in "all-out" efforts to support exports of Korean companies by "actively collaborating with export-related agencies and utilizing its domestic and overseas network." (Yonhap)
