Japan/Korea

KORUS FTA

KORUS is Helping America

 

The U.S.-Korea Free Trade Agreement (KORUS) entered into force on March 15, 2012. As written, it is the United States’ strongest, most up-to-date free trade agreement. It is expanding opportunities, creating American jobs, and paving the way for substantial Korean investment in the United States.

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Recent Activity

Press ReleaseMar 12, 2021 - 1:00pm

U.S. Chamber of Commerce Statement on Vaccine Leadership following the Quad Summit

WASHINGTON, D.C. - Following the first meeting of heads of state from the United States, Australia, India and Japan under the Quadrilateral Security Dialogue (‘Quad’) framework, the U.S. Chamber of Commerce issued the following statement:

ReportMar 08, 2021 - 12:30pm
AI Report Cover Image

Comments on AI Governance in Japan

On January 15, 2021, Japan’s Ministry of Economy, Trade, & Industry (METI) issued an interim report, AI Governance in Japan (English version here). The report, which was written by an expert committee, reviews global AI governance trends and considers options for turning “principles into practice” in the Japanese market. The USJBC and the Chamber’s Project Data-Driven Innovation, submitted formal comments on this report.

EventJan 13, 2021 - 12:00pm to 1:00pm
Global Competitiveness Key Graphic for 1/13 event

Policy Power Hour: Ensuring America's Global Competitiveness

Join us to discuss what it will take for America to remain a global leader in 2021 and beyond, including fortifying allied relationships, addressing challenges and opportunities in U.S.-China economic relations, and expanding trade and investment opportunities around the world.

Issue BriefJan 12, 2021 - 10:00am

International Trade, Investment, and Regulatory Policy Objectives

New for 2020, the Chamber outlines the top policy priorities for international trade and investment. The Chamber advocates for trade and investment agreements that are fair and accountable create a level playing field and put American families and workers first. 

ReportDec 30, 2020 - 6:00am
USJBC - 57th Japan Business Conference - Regulatory Coherence

Reducing Market Fragmentation through Enhanced International Regulatory Coherence

In the aftermath of the financial crisis of 2008, regulatory reforms to strengthen the financial system were critical in enhancing market transparency and restoring confidence in global financial institutions. While the regulatory reforms have been generally supportive of international regulatory coherence, unwarranted market fragmentation remains, which has led to inefficient markets and higher transaction costs. This paper provides an overview of reports presenting thoughtful insights and recommendations for reducing fragmentation.

ReportNov 25, 2020 - 1:00pm
Cover of the Connectivity report

Enhancing Data Connectivity in the Financial Services Sector

The financial services firms of the U.S.-Japan Business Council view data connectivity as a means to connect to their customers, manage risks, and ultimately provide critical services to individuals, businesses, and governments around the world. We strongly believe that data connectivity translates directly to economic growth, supports financial stability, and facilitates financial regulators’ access to financial-risk related data that is needed to ensure macroeconomic stability and soundness. Despite strong evidence to support these assertions, financial services firms often find themselves confronted with regulatory efforts that impede data connectivity, risking financial stability and market integrity.

ReportNov 18, 2020 - 6:00pm
USJBC - Pension Gap Cover

Bridging Japan’s Pension Savings and Returns Gap: A Focus on Younger Generations

Japanese retirees have long relied on the public pension system to fund their post-retirement living. In this super-aging society, however, sole reliance on the public pension system is not sustainable; a joint solution leveraging both the public and private pension systems will be essential to secure retirees’ financial wellbeing.

Press ReleaseNov 17, 2020 - 9:00pm

32nd USKBC-KUSBC Joint Plenary

Members of the U.S.-Korea Business Council and the Korea-U.S. Business Council (the “Councils”) held the 32nd Annual Joint Plenary Meeting on November 16-17 EST (November 17-18 KST) in a hybrid—in-person and virtual—format due to public health and safety concerns amid the COVID-19 pandemic. Centered around the theme, “Fostering U.S.-Korea Commercial Relations and Promoting Economic Growth and Innovation,” the Councils assembled senior business leaders from the United States and Korea to discuss creative ways to enhance U.S.-Korea commercial collaboration and business resiliency and to promote sustainable economic growth.

Press ReleaseNov 16, 2020 - 7:00pm

U.S. Chamber Statement on the Regional Comprehensive Partnership Agreement (RCEP)

WASHINGTON, D.C.— U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement today regarding the recently signed Regional Comprehensive Partnership Agreement (RCEP):