Yoon Jin-sik, Head of the Martial Arts Association, Visits US Republican Congressman "Actively Requests Cooperation for Korean Companies"

Visited California and Arizona from the 14th to 17th
Conducted outreach activities in the U.S.
Met with federal lawmakers including Young Kim and Abraham Hamadeh
Will visit Texas, Tennessee, and Arkansas starting on the 18th

The Korea International Trade Association (KITA) announced on the 19th that Chairman Yoon Jin-sik visited California and Arizona in the United States from the 14th to the 17th (local time) to conduct outreach activities related to the U.S.

On the 14th (local time), Yoon Jin-sik, Chairman of the Korea International Trade Association, and Young Kim, U.S. Representative for California, posed for a commemorative photo after their meeting in California, USA. Photo by Korea International Trade Association, Yonhap News Agency

According to KITA, on the 14th, Chairman Yoon met with Young Kim, a U.S. Representative from California, and on the 17th, he met with Abraham Hamadeh, Andy Biggs, U.S. Representatives from Arizona, and Steve Montenegro, Speaker of the Arizona House of Representatives, to discuss Korea-U.S. economic cooperation measures and requested active cooperation for Korean companies.

At the meeting with the U.S. Representatives, Chairman Yoon stated, "Since the first Trump administration in 2017, Korea's investment in the U.S. has reached a total of $160 billion over the past eight years, and Korea has ranked first in greenfield investment consecutively in 2023 and 2024," adding, "Korean companies' investment in the U.S. is contributing to regional economic development."

Chairman Yoon also said, "The uncertainty in the trade environment is increasing due to the U.S. federal government's imposition of tariffs and reduction of subsidies for companies investing in the U.S.," and requested "active cooperation and policy support at the congressional level."

Regarding the recent mention by former U.S. President Donald Trump in a joint session of Congress about the possibility of repealing the CHIPS Act, he also expressed, "There is significant concern among Korean companies about the reduction of semiconductor investment subsidies."

In response, Representative Young Kim said, "The current trade policy of the Trump administration is still in its early stages, and especially the repeal of the CHIPS Act and the Inflation Reduction Act (IRA) requires congressional approval, so it will take time for related policies to become clear."

Representative Abraham Hamadeh stated, "We are aware of the industry's concerns about the reduction of incentives and are actively consulting with the administration regarding large-scale semiconductor investments in our district," adding, "The Trump administration fully recognizes the importance of foreign capital projects, so the revision of the CHIPS Act is expected to proceed flexibly."

Representative Andy Biggs said, "The Trump administration's tariff policy is a strategic move considering complex issues such as resolving the trade deficit, securing tax revenue, countering China, and redefining diplomatic relations," and added, "Korea, along with Japan and Taiwan, is an important partner of the U.S., and the fact that virtually tariff-free trade is conducted under the Korea-U.S. Free Trade Agreement (FTA) is expected to be considered in the mutual tariff policy scheduled for next month."

Meanwhile, Chairman Yoon plans to visit Texas, Tennessee, and Arkansas starting on the 18th (local time) to meet with key state government officials such as governors and economic development directors to request cooperation for Korean companies.

This content was produced with the assistance of AI translation services.