WASHINGTON, D.C.—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.
“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.”
About the U.S.-Korea Business Council
The U.S.-Korea Business Council is the premier business advocacy organization representing America’s top companies investing in Korea. The Council is made up of senior executives of U.S. companies from every business sector that are major investors in Korea and are firmly committed to the Korean market.
About the U.S. Chamber of Commerce
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 50 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 116 American Chambers of Commerce abroad.