The FINANCIAL — The U.S. Chamber of Commerce’s U.S.-Korea Business Council (USKBC) hosted South Korea’s President Park Geun-Hye today at the conclusion of its annual plenary with the Korea-U.S. Business Council. Myron Brilliant, the Chamber’s executive vice president and head of International Affairs, and Boeing CEO Dennis Muilenburg welcomed Park and reaffirmed the U.S. business community’s commitment to continued investment in the South Korean economy.
“President Park has done an admirable job in developing initiatives that foster an innovative and creative economy,” Brilliant said. “Today’s annual plenary between the business councils of our two nations showcased their respective commitment to standing alongside President Park in expanding trade and investment under the Korea-U.S. Free Trade Agreement and launching creative programs for new areas, such as the Internet of Things.”
South Korea, the 14th largest economy in the world, is America’s 6th largest trading partner and 7th largest export market, according to the U.S. International Trade Commission. Additionally, trade and investment between the U.S. and Korea support tens of thousands of American jobs across the agricultural, manufacturing, and services sectors, according to the U.S. Chamber of Commerce.
“U.S. companies are looking for ways to capitalize on the tremendous growth in Asian markets, and Korea is a prime entry point for that goal,” said Tami Overby, president of the USKBC. “The USKBC will continue to support the Park administration’s goals to establish the Korean economy as a dynamic, business friendly leader in the Asia-Pacific region. The USKBC and our Korean partner are committed to working closely to resolve outstanding issues related to the Korea-US Free Trade Agreement, as well as more broadly in areas such as labor policy, competition policy, regulations and standards, to ensure that U.S. companies remain confident in Korea as a good place to invest and do business over the long term.”