October 18, 2018


WASHINGTON, D.C.— The U.S. Chamber of Commerce’s U.S.-Korea Business Council and the Korea-U.S. Business Council today issued a joint statement upon conclusion of their 30th annual plenary meeting.

“Recognizing that both Korean and American firms are global leaders in services and many advanced technologies, the Councils hope that the business communities of both countries will undertake new initiatives that create U.S.-Korea partnerships in emerging sectors and will provide joint leadership in the region on future frameworks to advance free, open and transparent trade and investment,” the Councils wrote.

David Gossack, U.S. Chamber vice president for Asia and U.S.-Korea Business Council president, and David M. Cordani, president and CEO of Cigna Corporation and U.S.-Korea Business Council chairman, led the U.S. business delegation to Seoul. The delegation met with South Korean government and business leaders to discuss issues critical to the bilateral trade and investment relationship.

“The U.S.-Korea relationship is ripe with new, exciting opportunities for American business,” Gossack added. “The two nations should now focus their attention on implementing and building upon the updated KORUS agreement in a way that allows U.S. job creators to reach new customers in the Korean market. Korea’s innovation economy presents many new opportunities, and we look forward to working with the Korean business community and government to explore further collaborations.”

The joint statement is available online here.

The U.S. Chamber’s USKBC is comprised of major U.S. companies that do business in Korea and is the primary U.S.-based business organization promoting strong economic ties between the two countries. The USKBC is a leading supporter of the U.S.-Korea Free Trade Agreement and works to promote strong economic ties and policies that support expanded bilateral trade and investment, innovation and private sector-driven growth in both economies.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 80 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.