Martial Arts Association President: "Logistics Costs Soaring, We Ask the National Assembly for Help"

Speaker of the National Assembly Park Byeong-seok (left in the photo) is taking a commemorative photo with Koo Ja-yeol, Chairman of the Korea International Trade Association, who visited the Speaker's office on the 10th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Choi Dae-yeol] On the 10th, Koo Ja-yeol, Chairman of the Korea International Trade Association, met with Park Byeong-seok, Speaker of the National Assembly, at the National Assembly to discuss the current status and requests of the trade industry. Chairman Koo urged, "Please create a business-friendly environment domestically by expanding investment tax credits for key industries such as semiconductors and batteries."

He also emphasized, "As the scale of our companies' local investments became a hot topic during the recent Korea-US summit, countries around the world, including the United States, are competing to attract key production facilities," adding, "Support is needed domestically to expand corporate investment."

He mentioned the difficulties faced by export companies due to the sharp rise in shipping and air freight rates. He said, "Although exports are increasing, the supply of vessels is not keeping up with cargo volume, causing logistics costs to surge and making it difficult to book shipping space on time," and requested, "If the government requests related budgets to alleviate companies' logistics cost difficulties, please consider them positively."

He continued, "Since 2011, the 'Framework Act on the Development of Service Industry' has been promoted through government legislation but has not been passed in the National Assembly due to controversies over telemedicine," and expressed hope that "this bill will be passed through bipartisan cooperation in the National Assembly."

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