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| Main opposition People Power Party (PPP) presidential candidate Yoon Suk-yeol, left, speaks with American Chamber of Commerce in Korea (AMCHAM) CEO James Kim during an event held in Seoul, Tuesday, to discuss ways to strengthen Korea-U.S. business ties. Courtesy of AMCHAM |
By Kim Hyun-bin
Main opposition People Power Party (PPP) presidential candidate Yoon Suk-yeol has stressed the importance of strengthening economic cooperation with the U.S.
"The Korea-U.S. alliance is a key pillar of the global economy and security. There are still unstable factors such as the spread of the Omicron variant and supply chain disturbances, but we must cooperate to turn these crises into opportunities," Yoon said at an event hosted by the American Chamber of Commerce in Korea (AMCHAM), Tuesday.
He stressed that the two countries can be reborn as partners to strengthen cooperation in high-tech industries such as nuclear power, AI, biotechnology, semiconductors and next-generation batteries.
"In order to attract active investment from companies, it is important to remove uncertainties related to government policies, to ensure stability in the decision-making process. We will do our best to improve unreasonable regulations that hinder market efficiency," Yoon said.
Yoon's comments came during a talk with AMCHAM Korea CEO James Kim and other U.S. company representatives at the Conrad Hotel Seoul, Tuesday, in which they discussed future policies, as well as his vision for creating a global investment environment to enhance South Korea's competitiveness and boost trade between the U.S. and Korea.
"We hope that Mr. Yoon will play an important role in promoting foreign direct investment and establishing policies to make Korea the headquarters of many companies in Asia. Active support from the Korean government is needed in areas such as labor, taxation and the regulatory environment. Now is the right time for such discussions," Kim said. AMCHAM is a non-political and non-partisan organization.
During the event, Yoon emphasized the importance of foreign investment and the need to create a fair corporate environment that meets global standards.
He pledged to actively create a global investment environment where creativity, efficiency, innovation and entrepreneurship are respected, while also seeking to explore measures to further promote trade between the U.S. and Korea, as well as create a global business environment to position Korea as the regional R&D headquarters for Asia, by utilizing Korea's excellent ICT environment, infrastructure and human resources.
Yoon also addressed various other global issues and trends, such as calling for stronger ESG practices and climate change initiatives, as well as improving diversity and inclusion and addressing the gender pay gap.
The event was part of AMCHAM's meeting series with major candidates of the upcoming presidential election, slated for March 9.
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