Latest news with #AmericanChamberofCommerceinKorea
Korea Herald
16-07-2025
- Business
- Korea Herald
AmCham spotlights AI-era cyber risks, calls for Korea-US cooperation
The American Chamber of Commerce in Korea hosted its first Cybersecurity Seminar on Wednesday under the theme 'Cybersecurity as National Security: Global Trends & Industry Lessons,' bringing together senior Korean and US government officials, global business leaders and cybersecurity experts in Seoul. The event underscored the growing importance of cybersecurity in national and economic security amid escalating AI-driven threats and global digital transformation. In his opening remarks, James Kim, AmCham chairman and CEO, stressed that cybersecurity must be seen as a cornerstone of national resilience. 'If a highly structured company like SK Telecom can be breached, it shows no organization is completely safe,' he warned. Korean lawmakers and senior officials — including National Assembly Vice Chair Choi Hyung-du, Ministry of Science and ICT Director General Choi Woo-hyuk, and FBI Legal Attache at the US Embassy Justin Chang — emphasized the urgency of public-private and international cooperation. 'Cybersecurity threats are no longer confined to the corporate domain,' said Choi. 'They now pose real risks to national infrastructure and public safety.' Keynote speakers included Simon Green, APAC President at Palo Alto Networks, and Lee Ki-joo, Chairman of Korea's CISO Council, who both urged organizations to adopt integrated, AI-ready cybersecurity strategies. 'AI technology has advanced ways of cyber attacks overall. We must rebuild strategies on cybersecurity,' Green stated during his speech. 'Our imperative is to secure AI by design, enabling organizations to innovate bravely and securely in this new era.' A panel moderated by Professor Kwon Hun-yeong from Korea University addressed the evolution of cyber risks across telecom, finance, and energy sectors, calling for cross-border data sharing and executive-level accountability. The seminar reaffirmed AmCham's role in promoting US–Korea tech cooperation and advancing a secure digital business environment.
Korea Herald
25-06-2025
- Business
- Korea Herald
AmCham, MOFA director discuss public-private ties for APEC summit
The American Chamber of Commerce in Korea announced Wednesday that it hosted a policy gathering with Kim Ji-hee, Director-General for International Economic Affairs at the Ministry of Foreign Affairs, to explore avenues for public-private cooperation ahead of the 2025 Asia-Pacific Economic Cooperation Summit in Korea, scheduled for October. The event was part of the institution's policy talks series, aimed at providing a valuable platform for senior policymakers and industry leaders to engage in dialogue on pressing issues affecting the US-Korea economic alliance. 'The government's ongoing efforts to engage the business community are crucial,' Kim said, 'to ensure Korea's APEC agenda delivers tangible results across the region.' She emphasized Korea's commitment to inclusive public-private collaboration through APEC's unique mechanisms, such as the APEC Business Advisory Council, while detailing a range of initiatives spanning digital transformation, artificial intelligence, biotechnology, health care and SME development. US business leaders in sectors including IT, biotechnology and energy voiced strong support for Korea's APEC initiatives, particularly those focused on artificial intelligence and demographic change. While outlining the Korean government's strategic vision and key priorities for the upcoming APEC Summit, Kim also shared updates on the Third Senior Officials' Meeting and Economic Leaders' Week. AmCham Chairman and CEO James Kim remarked that the summit would allow Korea to demonstrate global leadership amid rising geopolitical tensions and rapid technological change. 'With digital innovation, supply chain resilience, and regulatory reform emerging as top priorities, this year's APEC platform presents a powerful opportunity to strengthen public-private collaboration,' he said. 'As a proud member of the APEC CEO Summit Task Force, AmCham is committed to working closely with the Korean government and the Korea Chamber of Commerce and Industry to ensure Korea's host year delivers meaningful outcomes that advance the shared interests of both the US-Korea economic partnership and the broader Asia-Pacific region,' he added.
Korea Herald
15-05-2025
- Business
- Korea Herald
AmCham, KOTRA partner to boost bilateral economic ties
The American Chamber of Commerce in Korea signed a memorandum of understanding with the Korea Trade-Investment Promotion Agency on Thursday to enhance trade, investment and regulatory cooperation between Korea and the US. Through the agreement signed at the KOTRA headquarters in Seoul, the two organizations will form a joint working-level committee to identify and address key regulatory challenges based on AmCham's annual reports and member input. AmCham and KOTRA will also co-host regular events such as briefings, roundtables, exhibitions and export consultations, while seeking new areas for bilateral collaboration. The agreement builds on the findings of AmCham's '2025 Business Environment Insight Report: APEC Special Edition,' which highlighted approximately 70 unresolved or emerging regulatory issues across 12 key industries including aerospace, pharmaceuticals, energy and the digital economy. 'This MOU lays important groundwork for enabling strategic economic collaboration,' said AmCham CEO James Kim. 'It represents a key step forward in reducing nontariff barriers, strengthening Korea's position as a premier regional business hub, and ensuring the success of APEC 2025.' KOTRA President and CEO Kang Kyung-sung added to the statement, expressing his hope that the partnership will support Korean small and midsized enterprises entering the US market and strengthen business ties between the two countries.
Korea Herald
29-04-2025
- Business
- Korea Herald
AmCham seminar explores ways to improve Korea's regulatory landscape
The American Chamber of Commerce in Korea announced that it held a seminar focused on Korea's business regulatory landscape, seeking ways to strengthen business partnerships between Korea and the US and foster closer ties between the two countries. The seminar, titled Shaping the Regulatory Environment for Sustainable Trade, was held at the Conrad Seoul Hotel in Seoul on Tuesday. It aimed to explore strategies to enhance Korea's appeal as an investment destination, according to AmCham. AmCham stated that discussions centered on regulatory innovation, the expansion of sustainable investment, and stronger collaboration between the public and private sectors to improve Korea's global competitiveness. Special attention was given to regulatory hurdles facing key industries such as biopharmaceuticals, the digital economy, energy and chemicals during the seminar. 'As we mark 100 days into President Trump's administration and prepare for Korea's presidential election, the US-Korea economic partnership stands at a critical juncture,' said AmCham Chair James Kim in his opening remarks. 'To sustain and deepen our cooperation, it is more important than ever to address Korea-specific regulatory challenges and create a more sustainable, transparent environment.' The event brought together a broad range of trade-related figures from politics, government, diplomacy and business, including Korean Trade Minister Cheong In-kyo; Rep. Kim Won-i, vice chair of the National Assembly's Trade, Industry and Energy and Small and Medium Venture Business Committee; Joy Sakurai, deputy chief of mission at the US Embassy in Seoul; and Park Il-joon, executive vice chair of the Korea Chamber of Commerce and Industry. While business leaders shared their views on driving innovation in Korea during the seminar, the trade minister pledged to foster a more predictable and sustainable investment environment. 'As the Chair of the Asia-Pacific Economic Cooperation ministers responsible for trade meeting, the Ministry of Trade, Industry and Energy is fully committed to defending a free and fair trade system and enhancing Korea's investment attractiveness through regulatory reform and improvements to the business environment,' said Minister Cheong. 'We will continue to engage closely with AmCham and the global business community to deepen the economic partnership between Korea and the US.'
Korea Herald
03-04-2025
- Business
- Korea Herald
AmCham chief stresses Korea-US alliance, economic potential at Global Biz Forum
The American Chamber of Commerce in Korea Chair and CEO James Kim highlighted the promising future of South Korea-US economic ties despite near-term challenges, during a session at the Global Business Forum on Wednesday. The GBF, organized by The Korea Herald and Herald Business, is a 15-week program held every Wednesday, setting the stage for discussions among business leaders, experts, scholars and diplomats on global business trends. In his keynote speech, 'Korea at the Crossroads,' CEO Kim expressed optimism about the business relationship between South Korea and the US as one that continues to benefit both countries. 'Korea, as the sixth-largest trading partner of the US, is investing heavily in the United States while creating jobs there,' Kim said, noting that the US also plays a vital role in the Korean economy as both a trade partner and investor. According to Kim, that's where AmCham serves as a vital bridge that helps drive investment in both directions. 'Korea is now a major contributor to investment in the US, surpassing Taiwan, Japan and China,' he added. Kim further acknowledged Korea's untapped potential as a global business hub, noting that it has fewer regional headquarters than Asia-Pacific peers such as Singapore and Hong Kong. 'For a country of this magnitude and with this level of infrastructure, the number is far too low,' he said. 'We need to recognize that Korea may not have competed as effectively with other players in the region.' Amid looming challenges for Korea, including US President Donald Trump's tariffs, the nation's ongoing political crisis and various regulatory barriers to attracting foreign firms, Kim explained that AmCham has been working to address these issues. 'What AmCham has also done is make sure that Korea stands tall,' Kim remarked, highlighting the chamber's role in enabling effective communication between both sides and its 'Buy American' campaign, which has helped strengthen trade and economic ties. Looking ahead, Kim described the alliance as rock-solid: 'There may be some short-term setbacks, but in the long run, we're headed toward a strong and promising future.' As the evening progressed, other prominent speakers addressed the challenges facing Korea. Kim Gwang-suk, a researcher at the Institute of Korean Economy and Industry and an adjunct professor at Hanyang University's Graduate School of International Studies, shared his outlook on an impending shift in the global economic landscape. 'The world has entered an era of muted growth, but not recession,' Kim said. 'What Korea needs is to confront the reality head-on — that we are falling behind China and remain vulnerable to American protectionism. Only by acknowledging this can we chart a path forward.' As one solution, Kim suggested that Korea deepen engagement with new emerging markets, singling out India as a prime example due to its rapid economic growth. Turning the focus to Korean society, Yoo Seong-ho, a professor in the department of forensic medicine at Seoul National University College of Medicine, emphasized the growing importance of health, particularly as the nation undergoes rapid aging. 'With health care costs expected to rise alongside increasing life expectancy, it's important to stay healthy and face the final chapter of life without regret,' he said. He explained that discussions surrounding 'well-dying' are closely tied to overall well-being, and that it is worth reflecting on how we want to approach the end of life.
