AmCham-Industry Ministry Meeting: "Regulatory Reform on Labor, etc." "Policy Implementation Without Disruption"

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Amid growing uncertainties in the domestic and international trade environment due to the launch of the second Trump administration and the impeachment crisis of President Yoon Seok-yeol, the American Chamber of Commerce in Korea (AmCham) and the Ministry of Trade, Industry and Energy held a meeting.

At the meeting, AmCham urged the government to urgently reform regulations, including labor laws, to attract foreign direct investment (FDI). The government stated that it will carry out policies without disruption regardless of the political situation.

James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM) (left), is speaking at the AMCHAM-Jeong In-gyo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, special meeting held on the 11th at the Grand Hyatt Hotel in Yongsan-gu, Seoul. Photo by AMCHAM

On the 11th, AmCham held a special meeting at the Grand Hyatt Hotel in Yongsan-gu, Seoul, inviting Jeong In-gyo, head of the Ministry of Trade, Industry and Energy’s Trade Negotiations Division, to discuss the impact of the rapidly changing global trade environment and ways to attract FDI.

James Kim, chairman and CEO of AmCham, mentioned that global companies are showing strong interest in the Korean market. He said, "To establish Korea as a hub in the Asia-Pacific region, urgent regulatory reforms are needed in areas such as the labor market, tax administration, and the digital economy."

Jung In-kyo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy (right), is speaking at a special meeting with the American Chamber of Commerce in Korea (AMCHAM) held on the 11th at the Grand Hyatt Hotel in Yongsan-gu, Seoul. Photo by AMCHAM

At the meeting, Director Jeong emphasized, "Despite recent political circumstances, the government will proceed with policies as scheduled to ensure that foreign-invested companies can operate with confidence and focus on economic activities."

AmCham announced that since publishing the "Korea’s Strategy to Attract Global Companies as an Asia-Pacific Hub" report last March, it has been maintaining close meetings and discussions with the Ministry of Trade, Industry and Energy.

An AmCham official said, "This meeting provided a valuable opportunity for exchange between Director Jeong and AmCham’s board members, allowing for a deep understanding of Korea’s trade and investment policy directions. AmCham will continue to support the development of Korea-US trade cooperation relations."

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