The American Chamber of Commerce in Korea (Amcham), together with the Korea Chamber of Commerce and Industry (KCCI), hosted their annual “Doing Business in America” seminar on Thursday, aiming to guide companies seeking to enter or expand in the U.S. market.
This year’s event highlighted the rising need for Korean companies to stay ahead of changes in U.S. policy, compliance rules and investment incentives amid tougher global regulations and shifting trade dynamics, Amcham said in a press release on Friday.
The seminar came on the heels of Seoul and Washington’s joint fact sheet announced last week outlining the final agreement on bilateral trade and investment. Korea has agreed to invest $350 billion in the United States in exchange for lower tariffs, while the two countries also agreed to adjust other nontariff barriers such as digital platform regulations.
“The joint fact sheet released last week, following the Trump-Lee Summit, represents another milestone in our deepening economic partnership,” said James Kim, chairman and CEO of Amcham, in his opening speech at the seminar, held at the KCCI building in Jung District, central Seoul.
“We will continue to stand by Korean companies as they navigate U.S. policies and position themselves for sustained growth,” he added.
The seminar included sessions on the outlook of trade and economy in the United States and a corporate mentoring session for practical guidance on issues such as visas, taxes and tariffs for Korean companies looking to enter the U.S. market.
Experts pointed out that while the Korea-U. S. trade deal finalized last week eased unpredictability, uncertainties remained due to structural challenges in the United States, including a weakened manufacturing sector, widening income equality and competition with China.
“Companies must strengthen their monitoring of political developments, policy direction, major-country negotiations, key economic indicators and U.S. financial market conditions,” said Kim Jong-duk, executive director at the Korea Institute for International Economic Policy.
Deloitte Anjin’s Kim Seon-hyun said mid-sized companies in particular will “face increasingly intertwined tariff, transfer pricing and regulatory challenges,” advising them to adjust their transfer pricing strategies in the short term and optimize U.S. production and sourcing structure in the long term.
“Global uncertainty continues to grow as protectionism spreads, industrial policies evolve and supply chains shift,” said Park Dong-min, executive vice president at KCCI, in his welcoming remarks.
“In this environment, last week’s Korea-U. S. joint fact sheet sends a clear message of both countries’ intent to strengthen cooperation in strategic sectors such as shipbuilding, semiconductors, space and AI,” he said.
BY KIM JU-YEON [[email protected]]
